If Something Is a Unit of Account, Then It

question 55

Multiple Choice

If something is a unit of account, then it:

• A) serves as a yardstick for measuring the relative value of other goods
• B) is a means of holding wealth for the future
• C) is fairly stable
• D) is durable and portable
• E) is accepted as payment for any purchase

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Definitions:

Rationality

The quality of being based on or in accordance with reason or logic.

True Statements

Assertions or claims that accurately reflect reality or are in accordance with facts and verified information.

Rationalism

That philosophy that is characterized by its confidence in reason, and intuition in particular, to know reality independently of experience. Continental rationalism is a term usually reserved for three great European philosophers: Descartes, Spinoza, and Leibniz.

Empiricism

A philosophical stance emphasizing that knowledge comes primarily from sensory experience.