| 31. | Plato was the first to advocate the credit theory of money, that is, money as a unit of account for debt.
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| 32. | As of early 1987, Comecon lacked not only a flexible means of payment but also a meaningful, standard unit of account.
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| 33. | It was also the name of a unit of account in northern Germany and of a silver coin issued by Prussia.
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| 34. | For Graeber, when money first appeared its primary purpose was to act as a " unit of account ", to denominate debt.
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| 35. | Minted in Norway by the Olaf Haakonsson ( 1380-1387 ), who remained as a unit of account in the kingdom until 1513.
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| 36. | Until 1821, the Gulden was a unit of account, worth of a Conventionsthaler, used to denominate banknotes but not issued as a coin.
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| 37. | King Offa of Mercia is credited with causing the widespread adoption of the silver penny and the pound as a unit of account.
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| 38. | In modern economies, money in the form of currency usually serves the role of the unit of account ( unit of measurement ).
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| 39. | That is, unit of account refers to the object of recognition or display whereas unit of measure refers to the tool for measuring it.
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| 40. | These factors did not affect Jamaica, Bermuda, or the Bahamas which adopted the sterling currency in both coinage and as the unit of account.
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