The Unit of Account Characteristic of Money

question 51

Multiple Choice

The unit of account characteristic of money:

• A) makes it difficult to compare the relative prices of goods and services.
• B) refers to how we use money to transfer purchasing power over time.
• C) means prices are expressed in terms of money.
• D) means that money finalizes payments.

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Definitions:

Elaborative

Pertaining to providing additional information or detail that enhances understanding, often used in memory strategies or learning techniques.

Repetitive

Characterized by repeating the same task or action over and over again.

Prospective

Relating to or effective in the future; often used to describe studies or methods that observe outcomes over a certain period.

Episodic Memory

A type of long-term memory that involves the recollection of specific events, situations, and experiences.