Many international trade contracts are denominated in United States dollars,regardless of the currencies of the countries that are trading with each other.This is an example of money serving as a
A) unit of account.
B) medium of exchange.
C) store of value.
D) standard of deferred payment.

Question

Quizplus · Accepted Answer

A unit of account is a measure used to value goods and services in an economy. In this case, the United States dollar is being used as the measure or unit of account for the international trade contracts. It is important to note that while the United States dollar serves as the unit of account in these contracts, it may not necessarily be used as the medium of exchange or store of value in the actual trading transactions.

Many International Trade Contracts Are Denominated in United States Dollars,regardless