If K = capital and L = labor, then output per laborer is

_______________________: costs incurred by 3rd parties to a transaction.

Fill in the blank(s) with the appropriate word(s).

Which of the following statements is true?

A) Hours of labor that go into producing a product is a better unit of account than paper money. B) When money is used as a yardstick to describe the price of various goods and services, it is serving as a store of value. C) The necessary condition required for money to function as a medium of exchange is that it also needs to be a store of value. D) One of the limitations of using money is that it does not allow for the transfer of purchasing power into the future.