The Unit of Account

question 35

Multiple Choice

The unit of account

• A)is an accounting of the total units of goods and services produced in an economy.
• B)is an agreed measure for stating the prices of goods and services in an economy.
• C)is a type of value stored within all assets.
• D)is a type of accounting of how many currency units there are in an economy.

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Definitions:

Dynamite Blasting

The use of explosives, specifically dynamite, to break up or remove rock and other materials.

Strict Liability

A legal doctrine that holds an individual or entity responsible for their actions or products without the need to prove negligence or fault.

Contributory Negligence

A legal defense where the plaintiff's own negligence played a part in the harm suffered, potentially reducing the liability of the defendant.

Comparative Negligence

A legal principle where the fault for an accident is divided among the parties involved based on the degree of responsibility each has.