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WAEC Economics 1992 Question 15

Question 15

Money and Inflation

Money as a unit of account implies that it can be

  1. A.counted in units
  2. B.used to facilitate exchange
  3. C.used to measure the value of goods and services
  4. D.used to store goods and services
  5. E.used for future payment.
Show the answer and explanation

Answer: C (used to measure the value of goods and services)

Explanation

As a unit of account (measure of value), money lets us state the worth of every good as a price.