Money must serve three functions. Match each scenario to the function of money that it refers to. A. Dollars and cents are a yardstick - the worth of different things can be evaluated by comparing them against each other in terms of how much money they cost B. Instead of exchanging a gallon of milk for a half a block of cheese, customers pay for the milk and for the cheese C. Angel keeps their cash in a lock box because they know it won't deteriorate there over time 21. Medium of exchange 2. Store of value v 3. Unit of account

Money must serve three functions. Match each scenario to the function of money that it refers to. A. Dollars and cents are a yardstick - the worth of different things can be evaluated by comparing them against each other in terms of how much money they cost B. Instead of exchanging a gallon of milk for a half a block of cheese, customers pay for the milk and for the cheese C. Angel keeps their cash in a lock box because they know it won't deteriorate there over time 21. Medium of exchange 2. Store of value v 3. Unit of account

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter25: Money, Banking, And The Federal Reserve System

Section: Chapter Questions

Problem 3P

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