What function of money is highlighted if someone puts cash under his or her mattress to have on hand for unexpected emergencies? O a) unit of account O b) medium of exchange Oc commodity money O d) fiat money e) store of value
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- A good form of money is described as having the following characteristics: A, B, C, OR D ONE ANSWER A unit of account, medium of exchange, store of value, and standard of deferred payment. B unit of account, medium of exchange, and store of value. C unit of account, medium of exchange, and standard of deferred payment. D unit of account, medium of exchange, store of value, and money.An advantage that money has over other assets is that it: a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value over time d. Has lower transaction costs to use as a means of payment than other assetsWhen you open a savings account, you and your joint account holder will need these fouritems. Put a checkmark next to or highlight, in the image below, the items you knowyou/your parent/guardian already have and circle any items you would need to work onobtaining
- Sustaining members of public radio stations, such as WRKF in Baton Rouge and WWNO in New Orleans, make fixed monthly monetary donations to support the programming on those stations. These charitable donations are an example of which of the following functions of money? Select one: A. Unit of account. B. Standard of value. C. Medium of exchange. D. Means of unilateral payment. E. Standard of deferred payment.36. To be considered money, an item must have which of the following features? Choose all that apply. O federal government approved durability paper or metal composition O easily divisibleMatch the columns Protection of your money A. If this is not done, control over finances can be lost and legal issues may arise – such as problems with the South African Revenue Service, non-payment of accounts, etc. Banking is convenient B. A bank provides the owner with documentation which shows all monies received and paid out by the business. This is called a ‘bank statement’ and provides the owner with a concise transaction by transaction outline of monies going into and out of the bank account. Finance becomes readily available C. You may remember the days when your parents stood in long queues paying off telephone, electricity, clothing and other utility accounts. Those days are long gone. Nowadays you can just send a cheque by post, or even better – pay all these beneficiaries with the click of a button over the internet or via your cellular phone. More efficient business practices D. Money in a safe is ‘dead’ money, because it cannot earn interest for…
- 1. Which of the following is an example of money as a unit of account? (A) A monthly credit card statement (B) A money market account (C) A checking account (D) Pricing of items in a grocery store (E) Direct deposit fint money?Write an essay about: How is money created in an economy? What is ‘fiat money’ and are holders of fiat money exposed to any risks? Provide in text references/paraphrasing. Cannot 400-500 wordsWhich of the criteria for being used as money in a modern society does each of the following not meet? The criteria are (a) not rare, (b) indivisible into smaller units, (c) not durable, (d) doesn’t maintain its value over time, (e) not portable, (f) not expandable, (g) too easy to counterfeit. Items that could not be used for money. Example. Ice Cube. Why not? (c) not durable Bowling Ball. Why not? Rare gems. Why not? Whiskey. Why not? Sand. Why not? Cigarette. Why not?