Multiple Choice
Money's function as a unit of account can best be described as
A) a generally accepted medium of exchange.
B) a commodity that can be exchanged for another commodity.
C) an entry in an accounting ledger.
D) an agreed- upon measure for stating the prices of goods and services.
E) a method of recording transactions.
Correct Answer:

Verified
Correct Answer:
Verified
Q52: Barter can only take place if there
Q53: Suppose that the banking system has excess
Q54: The money multiplier will decrease if the
Q55: The higher and more unpredictable the changes
Q56: Use the figure below to answer the
Q58: Suppose that people decide to hold more
Q59: According to the quantity theory of money,
Q60: The equation of exchange in terms of
Q61: During a period of severe inflation, which
Q62: Which one of the following is not