BECAUSE IT IS A UNIT OF ACCOUNT, MONEY (A) REDUCES TRANSACTION COS...

58) Because it is a unit of account, money

(a) reduces transaction costs.

(b) reduces the number of prices that need to be calculated.

(c) does not earn interest.

(d) does all of the above.

(e) does only (a) and (b) of the above.

Answer: E

Question Status: Previous Edition