Question

(1) You go to Greater's Ice Cream and see the price of a cone quoted as $3.00. (2) You buy the cone and pay with $3.00 in cash. In the first instance money serves as ___________, while in the second instance money serves as ___________. Choose one: A. a unit of account; a store of value B. a medium of exchange; a store of value C. a medium of exchange; a unit of account D. a store of value; a unit of account E. a unit of account; a medium of exchange F. a store of value; a medium of exchange

Answer 1

Answer:

The answer is E. a unit of account; a medium of exchange

Explanation:

Because they allows different things to be compared against each other; for example, goods, services, assets, liabilities, labour income, expenses.

A unit of account is a monetary unit of measurement of value or cost.

And the second is a medium of exchange because $3 is being used to buy cone. It exchanged money for cone.