When money works as a common denominator into which the values of all goods and services are expressed, it is which function of money?
(a) Medium of Exchange.
(b) Unit of Account.
(c) Store of Value
(d) Standard of Deferred Payment.
Answer: (b) Unit of Account.
Economics
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A. a square. B. a rectangle. C. a hill, or mound. D. an S curve.
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If ________ bargaining to resolve an externality is to result in an efficient outcome, the initial assignment of rights must be clear to ________ parties.
A. public; at least one B. public; only government-sponsored C. private; both D. private; at least one
Economics