When Economists Say That Money Serves as a Unit of Account

question 118

Multiple Choice

When economists say that money serves as a unit of account, they mean that it is

• A) a way to keep wealth in a readily spendable form for future use.
• B) a means of payment.
• C) a monetary unit for measuring and comparing the relative values of goods.
• D) declared as legal tender by the government.

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Definitions:

Structuralists

Psychologists who analyze the basic elements of consciousness and how they relate to experience, originating as a school of thought in the 19th century.

Behaviorists

Psychologists who focus on observable behaviors and the ways in which they can be learned or unlearned, excluding the study of internal mental states.

Pure Research

Research conducted without concern for immediate applications.

Research Topic

A specific subject, problem, or area of investigation that is chosen for study in academic or professional research.