201Exam2-Fall 2017 -ord References Mailings Review View Tell me what you want to

Question

201Exam2-Fall 2017 -ord References Mailings Review View Tell me what you want to do 5) The unit of account is defined as A) the exchange of goods and services directly for other goods and services. B) barter C) an object that is accepted in return for goods and services. D) an agreed upon measure for stating prices of goods and services. E) the medium of exchange. 6) The function of money that helps assess the opportunity cost of an activity is money's use as a A) medium of exchange. B) store of value. C) unit of account. D) store of debt. E) barter tool. when money is used to compare the relative price of a burrito and a taco, money is being used as a A) medium of exchange B) store of value C) measurement of inflation. D) unit of account E) token of bartering

Explanation / Answer

Answer)

5)D) an agreed upon measure for stating prices of goods and services.

6) b)Store of value (As a store of value, money allow people to compare the cost of choices and to determine opportunity cost.)

7)A)medium of exchange

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