Saying That It Takes Twice as Many Dollars to Buy

question 93

Multiple Choice

Saying that it takes twice as many dollars to buy one ticket for a concert than two tickets for a movie refers to the use of money as a

• A) medium of exchange.
• B) unit of account.
• C) store of value.
• D) means of achieving the double coincidence of wants.

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Definitions:

Prenuptial Agreement

A legal document signed by a couple before marriage outlining the allocation of assets and financial responsibilities in the event of divorce.

Professional Indemnity Insurance

Insurance that protects professionals against legal costs and claims for damages from clients due to acts of professional negligence.

Policyholder

An individual or entity that owns an insurance policy and is entitled to coverage under that policy.

Claim Covered

A statement acknowledging that an insurance policy or warranty agreement will provide financial protection or reimbursement for a specific loss or damage.