Question : It is possible to derive the value of the Gross Domestic Product (GDP) of a country. Which function of money is applicable here?
Option 1: Store of value
Option 2: Unit of account
Option 3: Standard of deferred payments
Option 4: Medium of exchange
New: SSC CHSL tier 1 answer key 2024 out | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
Correct Answer: Unit of account
Solution : The correct answer is Unit of account .
A unit of account is one of the functions of money, and it is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Gross domestic product is equal to the market value of all the finished goods and services produced within a country's borders within a specific period.
Related Questions
Know More about
Staff Selection Commission Combined High ...
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Get Updates Brochure
Your Staff Selection Commission Combined Higher Secondary Level Exam brochure has been successfully mailed to your registered email id “”.
