Which statement best illustrates the unit of account function of money?
A) You list prices for candy sold on your website,www.sweettooth.com,in dollars.
B) You pay for your NHL tickets with dollars.
C) You keep $10 in your backpack for emergencies.
D) You sell a used copy of your textbook for $40.

Question

Quizplus · Accepted Answer

The unit of account function of money refers to the ability to measure the value of goods and services in terms of a common unit, which in most modern economies is their currency. Listing prices for candy in dollars on a website demonstrates the use of money as a unit of account. The other choices involve the use of money for different functions, such as medium of exchange (B), store of value (C), and means of payment (D).

Which Statement Best Illustrates the Unit of Account Function of Money