Question

Jessica paid $350,000 for her house in 2010 and sold it six years later for $400,000.

What function did the house serve during the time Jessica owned it?
O medium of exchange
O unit of exchange
O unit of account
store of value

Answer 1

The function which the house serve during the time when Jessica owned or purchase the house, is the unit of account.

Step-by-step explanation:

Unit of account is one of the functions of the money, which has a standard monetary measurement unit for the cost or the value of assets, goods or services. It lends the meaning to the assets, profits, liability and losses.

So, here in the case, Jessica paid $350,000 for the house which is a unit of account and the sold the house for $400,000. From which she gained profit of an amount $50,000.