If Jack Sparrow buries a chest of gold bullion on a deserted island and plans to come back later,then the gold is functioning as a:
A) unit of account.
B) store of value.
C) medium of exchange.
D) barter tool.

Question

Quizplus · Accepted Answer

The gold bullion is functioning as a store of value because it is being stored and held for future use by Jack Sparrow. It is not being used as a medium of exchange because it is not currently being traded for goods or services. It is not a unit of account because it is not being used as a standard measure of value. And it is not a barter tool because it is not being used to exchange for other goods or services.

If Jack Sparrow Buries a Chest of Gold Bullion on a Deserted