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? Gold became a popular form of money because

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

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

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_2

Step: 3

blur-text-image_3

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

World Economic And Social Survey 2012 In Search Of New Development Finance

Authors: United Nations Department Of Economic And Social Affairs

1st Edition

9210555112, 9789210555111

More Books

Students also viewed these Economics questions

Question

Discuss the concept of ethics in the management of human resources.

Answered: 1 week ago

Question

Define organizational culture.

Answered: 1 week ago