The role of money 1. The roles of moneyRaphael wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacation is priced at$750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Raphael buys the computer and writes acheck for $1,299.Identify what role money plays in each of the following parts of the story.Hint: Select each role only once.Role of MoneyRaphael has $1,537 in his checking account.Raphael writes a check for $1,299.Raphael can easily determine that the price of the computer is more than the price ofthe vacation.Medium ofExchangeOUnit ofAccountOOOStore ofValueOoo

Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium…

priced at $1,299, and the vacation is p $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Raphael buys the computer and check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Medium of Exchange Unit of Account Store Valu

priced at $1,299, and the vacation is p $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Raphael buys the computer and check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Medium of Exchange Unit of Account Store Valu

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter18: Money And The Federal Reserve System

Section: Chapter Questions

Problem 17SQ

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1. The roles of money Tim wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacation is priced at $800. He has only $1,574 in his checking account, so he cannot afford to purchase both. After much thought, Tim buys the computer and writes a check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Unit of Medium of Store of Role of Money Exchange Value Account Tim can easily determine that the price of the computer is more than the price of the vacation. Tim has $1,574 in his checking account. Tim writes a check for $1,299.
Shen wants to both purchase a new laptop and go Florida for spring break. The computer is priced at $1,299, and the vacation is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Shen buys the laptop and writes a check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Shen can easily determine that the price of the laptop is more than the price of the vacation. Shen has $1,537 in his checking account. Shen writes a check for $1,299. Medium of Exchange Unit of Account Store of Value O O
2. The roles of money Lorenzo wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vecation is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Lorenzo buys the computer and writes a check for $1,299, Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Lorenzo can easily determine that the price of the computer is more than the price of the vacation. Lorenzo has $1,537 in his checking account. Lorenzo writes a check for $1.299. Medium of Exchange O O Unit of Account O Store of Value O OO
Suppose you’re at the mall shopping for a pair of shoes and run into NBA player LeBron James. You help him find a perfect gift to give his teammate, Alex Caruso. As thanks for your help, he signed the jersey off his back and gave it to you. Even though his jersey is a valuable asset, why would it not serve as a very good form of money in your attempt to buy shoes? Use the three primary functions of money in your explanation.
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