Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following is an example of the function of money as a unit of account? As the use of gold evolved, people would

Which of the following is an example of the function of money as a unit of account?

  • As the use of gold evolved, people would list prices for products in gold.
  • Gold became a popular form of money because it could be stored for long periods of time without tarnishing or rusting.
  • Pieces of gold were easy to transport and trade for other items.
  • During the Great Depression, Americans hoarded gold.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Labor Economics

Authors: George J. Borjas

6th edition

73523208, 2900073523209 , 978-0073523200

More Books

Students also viewed these Economics questions

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago