One of moneys primary roles in the economy comes from the use of money to transfer purchasing power to the future. This role of money is called
A. unit of account.
B. standard of deferred payment.
C. store of value.
D. medium of exchange.
Answer: C
Economics
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Which of the following is not an example of money used as a unit of account?
a. A British pound is worth $3.00. b. Auto repairs were $3,000 last year. c. Business travel totaled 12,000 miles. d. Gasoline sells for $1.20 per gallon and oil is $5.00 per quart.
Economics
The essential logic behind international trade is not different from that underlying trade among different states. Why, then, do we study international trade as a special subject?
Economics