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 vacation 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 Unit of Account Store of Value O 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 vacation 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 Unit of Account Store of Value O O O

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter27: Money And Banking

Section: Chapter Questions

Problem 7RQ: What are the four functions that money serves?

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1. The roles of money Andrew 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, Andrew 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 Andrew can easily determine that the price of the computer is more than the price of the vacation. Andrew has $1,574 in his checking account. Andrew writes a check for $1,299. Medium of Exchange OO Unit of Account Store of Value O OO
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.
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