When Jack and Jill use dollars to compare the market values of their cellphones, money is acting as a
A) unit of accounting.
B) standard of deferred payment.
C) store of value.
D) medium of exchange.

Question

Quizplus · Accepted Answer

Money acts as a unit of accounting when it is used to measure the value of goods and services. In this scenario, Jack and Jill are comparing the market values of their cellphones by using dollars as a common unit of accounting.

When Jack and Jill Use Dollars to Compare the Market