When Money Is Used to Measure and Compare the Value

question 17

Multiple Choice

When money is used to measure and compare the value of goods and services, it is used as a

• A) unit of account.
• B) store of value.
• C) medium of exchange.
• D) means of payment.

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person without diminishing availability to others.

Location Subsidies

Financial incentives provided by governments to encourage businesses to establish operations in specific areas, often to stimulate economic growth.

Tax Breaks

Financial incentives or reductions in tax liabilities, intended to encourage certain activities or investments.

Wage Subsidies

Financial incentives provided by governments to employers to encourage the hiring of certain workers or to promote employment in specific sectors.