Question

Question 1 (Multiple Choice Worth 5 points)

(01.06 LC)
Which statement shows that money is a "measure of value?"
This bill is worth twenty dollars.
My phone is worth eight hundred dollars.
The dollar I just found in my drawer is still worth a dollar.
The more features it has, the more it is worth.

Answer 1

Money serves as a measure of value when it acts as a unit of account, providing a common denomination for the value of goods and services, such as a bill's worth in dollars.

Step-by-step explanation:

The statement that shows money as a "measure of value" is "This bill is worth twenty dollars." Money, in its role as a unit of account, acts as a common denominator that simplifies thinking about trade-offs, as it gives a standard measure for the value of goods and services.

For instance, an accountant may charge you $100 for filing your tax return, and you can compare this cost directly with purchasing two pairs of shoes at $50 each, illustrating the convenience of having a standardized measure of value.

Answer 2

Answer: My phone is worth eight hundred dollars.

Step-by-step explanation: