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MEASURE OF VALUE: The money function in which money is used as the common benchmark to designate the prices of goods throughout the economy. Measure of value, or unit of account, means money is functioning as the measuring unit for prices. In other words, prices of goods are stated in terms of the monetary unit. This is one of four basic functions of money. The other three are medium of exchange, store of value, and standard of deferred payment.

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INDIRECT BUSINESS TAXES

The official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). Indirect business taxes (IBT) is generally less than 10 percent of gross domestic product (7 to 8 percent is common).

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Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a birthday gift for your uncle or a pair of red and purple designer socks. Be on the lookout for rusty deck screws.
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