All products can be valued and measured in terms of dollars. This illustrates the ________ function of money.
A) payment for labour
B) unit of account
C) store of value
D) basis for banking system
E) medium of exchange

Question

Quizplus · Accepted Answer

The unit of account function of money refers to the ability of money to be used as a common measurement of value for goods and services. This allows for easier comparison and assessment of the worth of different products. By valuing products in dollars, money serves as a unit of account.

All Products Can Be Valued and Measured in Terms of Dollars