When economists say that money serves as a medium of exchange, they mean that it is Multiple Choice a monetary unit for measuring and comparing the relative values of goods. declared as legal tender by the government. a means of payment. a way to keep wealth in a readily spendable form for future use.

Suppose your firm is considering investing in a project with the cash flows shown as follows, that the required rate of return on projects of this risk class is 10 percent, and that the maximum allowable payback and discounted payback statistics for the project are three and a half and four and a half years, respectively. use the irr decision to evaluate this project; should it be accepted or rejected