Prisoners Sometimes Determine a Single Good to Be Used as Money

question 152

Multiple Choice

Prisoners sometimes determine a single good to be used as money. This good becomes

• A)a medium of exchange and a unit of account.
• B)a medium of exchange, but not a unit of account.
• C)a unit of account, but not a medium of exchange.
• D)neitehr a unit of account nor a medium of exchange.

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Definitions:

Relevant Cash Flows

Cash flows that will only occur as a result of undertaking a project or investment.

Financial Perspective

An viewpoint emphasizing the importance of managing a company's financial resources wisely to ensure its long-term success and stability.

Profit Margin

A financial metric that measures the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency of a company in managing its expenses and profits.

Required Accounting Return

The minimum return that a company needs to achieve on its investments based on accounting principles, to satisfy stakeholders or internal benchmarks.