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.

• A) II only
• B) I and III
• C) I only
• D) I and II

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Definitions:

Valid Argument

An argument whose conclusion logically follows from its premises, ensuring that if the premises are true, the conclusion must also be true.

Conclusion

The final part of something, such as an argument or piece of writing, summarizing the main points and often expressing a final judgment or decision.

Invalid Arguments

Arguments that fail to follow logical form, where the conclusion does not logically follow from the premises.

Unsound

Not based on solid reasoning or logic; flawed or lacking in stability.