The unit of account
A) is a type of value stored within all assets.
B) is an agreed measure for stating the prices of goods and services in an economy.
C) is a type of accounting of how many currency units there are in an economy.
D) is an accounting of the total units of goods and services produced in an economy.

Question

Quizplus · Accepted Answer

The unit of account is an agreed measure for stating the prices of goods and services in an economy. It allows for consistency and comparability in tracking prices and value across different transactions and time periods. It is not a type of value stored within all assets nor is it an accounting of the total units of goods and services produced in an economy.

The Unit of Account