Which of the following is true of money substitutes? ANSWER Unselected Money substitutes serve the function of being a medium of exchange, but are not a store of value. Unselected Money substitutes serve the functions of being a medium of exchange and a store of value, but cannot provide a unit of account. Unselected Money substitutes serve the function as a store of value, but cannot be used as a medium of exchange. Unselected Money substitutes serve all three functions of money: they act as a medium of exchange, serve as a store of value, and provide a unit of accoun