Question

Which of the following correctly defines money as a unit of account?
a. it determines whether a good has value.
b. it is determined to be legal by the person in possession of it.
c. it provides a means for comparing the values of goods and services.
d. it does not retain its value when saved instead of spent.

Answer 1

The correct answer to this question is letter "c. it provides a means for comparing the values of goods and services." The statement that correctly defines money as a unit of account is that it provides a means for comparing the values of goods and services.