Which statement best illustrates the unit of account function of money?
A) You list prices on your new restaurant menu in dollars.
B) You pay for your Toronto FC season tickets with dollars.
C) You keep $1000 in your safe for emergencies.
D) You sell your home for $750 000.
Correct Answer:
Verified
Q2: Which statement best defines barter?
A) It is
Q3: What is a generally accepted medium of
Q4: When Arnold uses dollars to record his
Q5: What is current Canadian currency?
A) fiat money
Q6: Which of the following is included in
Q8: Which statement best illustrates the medium of
Q9: Which of the following does M1+ include?
A)
Q10: Which of the following has intrinsic value?
A)
Q11: What do economists use the word "money"
Q12: Which statement best defines liquidity?
A) It is
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