The "yardstick" people use to post prices and record debts is called
A)a medium of exchange.
B)a unit of account.
C)a store of value.
D)liquidity.

Question

Quizplus · Accepted Answer

The "yardstick" people use to post prices and record debts is called a unit of account. This is because it is used as a standard for measuring and comparing the value of goods and services. The other options do not accurately describe this function of the currency - medium of exchange is used to buy and sell goods, store of value refers to the ability of currency to retain its value over time, and liquidity refers to how easily an asset can be converted into cash.

The "Yardstick" People Use to Post Prices and Record Debts