Money's Function as a Unit of Account Can Best Be

question 57

Multiple Choice

Money's function as a unit of account can best be described as

• A)a generally accepted medium of exchange.
• B)a commodity that can be exchanged for another commodity.
• C)an entry in an accounting ledger.
• D)an agreed- upon measure for stating the prices of goods and services.
• E)a method of recording transactions.

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Definitions:

Stimulus

Economic measures taken by the government to encourage growth or prevent economic slowdown, often through spending or tax cuts.

Disinflation

A reduction in the rate of inflation; a slowdown in the rate at which prices increase.

1960s

A decade of significant cultural, political, and technological change, marked by movements for civil rights, space exploration, and the emergence of counterculture.

1970s

A decade characterized by various global events, including economic changes, political realignments, and significant cultural evolution.