Suppose that I find out from an L.L. Bean catalogue that a sweater costs $30.00. In this case, money is serving as a
A) double coincidence of want.
B) unit of account.
C) medium of exchange.
D) store of value.

Question

Quizplus · Accepted Answer

The fact that the price of the sweater is listed in dollars shows that money is serving as a unit of account, as it is being used as a way to measure the value of the item. A medium of exchange would refer to actually using money to purchase the sweater, which is not explicitly stated in this scenario. A store of value would refer to using money as a way to save and hold value over time, which is also not implied in this situation. Double coincidence of want refers to a situation where two parties each have something the other wants, which is not relevant to this scenario.

Suppose That I Find Out from an L