What Is the "Unit of Account" Function of Money? ​

question 59

Multiple Choice

What is the "unit of account" function of money? ​

• A) ​A common measurement of the relative value of different goods and services.
• B) ​The ability of money to hold value over time.
• C) ​The quality of money not to be hoarded because of its commodity value.
• D) ​The function of money to be widely accepted in exchange for goods and services.

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Definitions:

Marxist Theorists

Individuals who analyze and study society, economics, and history through the lens of Marxism, a framework based on the ideas of Karl Marx focused on class struggle and societal change.

Deviance

Behaviors or actions that defy societal norms or expectations, attracting disapproval or sanctions.

Capitalism

An economic system based on private ownership of the means of production and their operation for profit, characterized by competitive markets, capital accumulation, and wage labor.

Postmodernist Theory

A philosophical approach that questions the grand narratives and ideologies of modernism, emphasizing the role of language, power dynamics, and cultural contexts in shaping our understanding of truth and reality.