Which of the following are true-
a) The problem of how much of good A to be exchanged for 1 unit of good B is solved by function of unit of account of money.
b) Universal acceptability makes money highly exchangeable.

Both a and b are true

The correct option is: Both a and b are true.

Explanation:

a) The problem of how much of good A to be exchanged for 1 unit of good B is indeed solved by the function of the unit of account of money. Money serves as a common measure that facilitates comparing the values of different goods and services.

b) Universal acceptability is a characteristic that makes money highly exchangeable. Money is generally accepted as a medium of exchange in transactions, which enhances its usability and exchangeability.