When economists refer to the role of money as a unit of account, they mean that
A)most accounting systems reflect that goods are purchased with currency.
B)most accounting systems reflect that goods are purchased with checks.
C)money gives traders a way of measuring value in the economy.
D)money makes it possible for specialization to take place.

Question

Quizplus · Accepted Answer

When economists refer to the role of money as a unit of account, they mean that money gives traders a way of measuring value in the economy. Money serves as a common unit of measurement and allows goods and services to be priced and compared with each other, facilitating transactions and economic activity. This function is essential for efficient market functioning and the coordination of economic activity.

When Economists Refer to the Role of Money as a Unit