Economists use money equivalents to compare costs and benefits because money is

Question

Quizplus · Accepted Answer

Money is a common measuring stick that allows economists to compare costs and benefits in a standardized way. It is a widely accepted medium of exchange and a unit of account that makes it easy to assign numerical values to goods, services, and opportunities. This allows for more precise and systematic analysis of economic decisions and outcomes. While A, B, and D may also be true statements, they do not fully capture the rationale for using money equivalents in economic analysis.

Economists Use Money Equivalents to Compare Costs and Benefits Because