Bryan needs a new backpack. He compares the prices of three different backpacks at a local store to find the best deal. Which purpose of money is Bryan demonstrating?
A.
unit of account
B.
store of value
C.
acceptance of payment
D.
medium of exchange
3 answers
A. unit of account
In January of 2008, the average price of a gallon of milk was $3.87. In January of 2012, the average price of a gallon of milk was $3.58. What is this an example of?
This is an example of the inflation rate or the change in price over time.