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Which of the Following Applies to the Use of Money

question 39

Multiple Choice

Which of the following applies to the use of money as a unit of account?
I. A unit of account is an agreed measure for stating the prices of goods and services.
II. Using money as a unit of account creates a simplified pricing system.
III. Economies choose many goods as units of account.


Definitions:

Home Environments

encompasses the physical, emotional, and social conditions of a person's living situation which can significantly influence their development and well-being.

Nature

The phenomena of the physical world collectively, including plants, animals, the landscape, and other features and products of the earth as opposed to humans or human creations.

Nurture

The influence of external factors such as environment, education, and care on an individual's development.

Cognitive Revolution

A period during the 1950s to 1970s marked by the adoption of a new approach to studying the mind, emphasizing internal mental processes.

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