How Does Money Function as a Unit of Account?​

question 86

Multiple Choice

How does money function as a unit of account?​

• A)Money has intrinsic worth as a commodity.
• B)Money is convertible into commodities that have intrinsic worth.
• C)The prices of all goods and services are measured in terms of money.
• D)Things that function as money can do so because people know there is a standard of value that ultimately backs the money even if it is only faith.
• E)Bank accounts make it easy for people to store their wealth.

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Definitions:

Firm Choose

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Expected Value

A mathematical concept representing the average outcome when the same event is repeated multiple times, weighting each outcome by its probability of occurrence.

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