It can also be helpful to look at dimensions for justification, ##\text{dollars}\,\text{hr}^{-1} \times \text{hr} = \text{dollars}##
Just in case you're interested, I thought I might add a little note about your example. Quantities like displacement and velocity are more completely described as vectors. In the absence of any acceleration, you can say ##\vec{d} = t\vec{v}##. Since ##\vec{d}## and ##\vec{v}## are really arrows, this just means that the ##\vec{d}## is ##t## times as long as the ##\vec{v}## arrow.
Now you might then choose to establish these vectors in a chosen coordinate system, in which case you can now consider equations pertaining to the components. You can now say things like ##\Delta x = v_x t##, where all of those numbers are ordinary scalars and the multiplication just ordinary multiplication.
You have to be slightly careful when discussing distance, since a distance is the magnitude of a displacement. If ##\Delta \vec{r} = t \vec{v}##, then the distance you go ##|\Delta \vec{r}| = t|\vec{v}|##. Or better still, for non-constant velocities, a distance is an integral of speed (which is itself the magnitude of velocity).