The Unit of Account Function of Money _____

question 149

Multiple Choice

The unit of account function of money _____

• A) means that money should be durable.
• B) means that money is used to measure the value of all goods.
• C) requires that money be made of something valuable.
• D) means that money can be used to save up purchasing power.
• E) means that money is more easily counted than goods.

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Definitions:

Monetary Value

The financial worth of an item, service, or asset, expressed in terms of currency.

Products and Services

The combination of physical goods and intangible activities that fulfill customer needs and wants.

Balance of Trade

The difference between a country's exports and imports of goods over a certain period, indicating the economic health of a nation.

Monetary Value

The worth of a good, service, or asset expressed in terms of money; often determined by market forces.