Establishing a Unit of Value and Establishing a Standard Means

question 236

True/False

Establishing a unit of value and establishing a standard means of payment are two functions of a monetary system.

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Definitions:

Gift Cards

Prepaid stored-value money cards issued by retailers or banks to be used as an alternative to cash for purchases within a particular store or related businesses.

Abusive Debt Collectors

Individuals or agencies that use unethical or illegal practices to collect debts, often violating debtors' rights.

Civil Suits

Legal proceedings initiated by a private individual or entity against another for the enforcement or protection of a private right.

Merchantable Quality

A standard implying that goods sold by a merchant are fit for the general purpose for which they are sold.