MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 14, Problem 18SQ
To determine
Desirable properties of money.
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Students have asked these similar questions
a) Describe our society at present if it doesn’t use money.
b) How the transactions would be if money was not discovered.
Which 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?
1. find and cite two recent articles in a magazine or newspaper or on a
website about bitcoin and in your own words post two thoughts about
what you learned and understood about bitcoin from those articles
2. Do you think bitcoin is money? If yes, why? If not, why not? Think about
what makes anything money
3. respond to at least one of your colleagues' posts in a thoughtful, productive
way
4. refer to the rubric posted below to understand how the posts are graded
Chapter 14 Solutions
MACROECONOMICS FOR TODAY
Ch. 14.1 - Prob. 1GECh. 14.1 - Prob. 2GECh. 14.4 - Prob. 1YTECh. 14.5 - Prob. 1YTECh. 14 - Prob. 1SQPCh. 14 - Prob. 2SQPCh. 14 - Prob. 3SQPCh. 14 - Prob. 4SQPCh. 14 - Prob. 5SQPCh. 14 - Prob. 6SQP
Ch. 14 - Prob. 7SQPCh. 14 - Prob. 8SQPCh. 14 - Prob. 9SQPCh. 14 - Prob. 10SQPCh. 14 - Prob. 1SQCh. 14 - Prob. 2SQCh. 14 - Prob. 3SQCh. 14 - Prob. 4SQCh. 14 - Prob. 5SQCh. 14 - Prob. 6SQCh. 14 - Prob. 7SQCh. 14 - Prob. 8SQCh. 14 - Prob. 9SQCh. 14 - Prob. 10SQCh. 14 - Prob. 11SQCh. 14 - Prob. 12SQCh. 14 - Prob. 13SQCh. 14 - Prob. 14SQCh. 14 - Prob. 15SQCh. 14 - Prob. 16SQCh. 14 - Prob. 17SQCh. 14 - Prob. 18SQCh. 14 - Prob. 19SQCh. 14 - Prob. 20SQ
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Similar questions
- How did money arise? What issues did money solve?arrow_forwardSuppose 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.arrow_forwardHow does the existence of money simplify the process of buying and selling?arrow_forward
- Which of the following is a reason that we do not hold all of our money in cash? Select one: a. To increase transaction costs b. To protect our ability to purchase goods spontaniously. C. To earn interest, d. To reduce transaction costs.arrow_forwardWhich of the following statements represent a use of money that is not consistent with its definition? "I got some money at the ATM with my debit card," "I just used my credit card as money to buy a new television." "I wrote a check on my deposit account to pay for dental services." "I will accept either currency or gold as money for the purchase of my house."arrow_forwardWhat is the role of money for Adam Smith?arrow_forward
- Gold and silver have been historically used as materials for making commodity money (coins) by many different human cultures throughout history. This was because they were difficult to obtain and less prone to rust than other metals. In other words, they could perform one of the functions of money better than other metals. Which function is that? Which function of money do gold and silver perform better than other metals? a. Unit of account b. Store of value c. Medium of exchange d. Standard of deferred paymentarrow_forwardExplain Money, and the four assets that qualify as money.arrow_forwardExample of money motives?arrow_forward
- Match each scenario to the function of money that it refers to. A. Angel a buyer for GoCamping store, reviews a price list of various camping supplies before placing an order B. Tonya plans to use money accummulated in his bank account over several years to put a down payment on a house C. Ariel sold 150 cases of wine last week to a local bar 1. Unit of account 2. Medium of exchange 3. Store of valuearrow_forwardWhat are the three functions that a commodity must fulfill to be useful as money? 13.Why can’t food be used as a form of money? 14.Money is what money does. Explain.arrow_forwardEconomics One of the principle functions of money is that it serves as a “store of value." This role could be described by recognizing that money is A. used as a basic unit of measuring economic activity. B. an asset that can be used for payment when buying goods/services. C. an asset that can be used as a means to hold wealth. D. None of the above answers are correct (since money in fact does not serve as a "store of value").arrow_forward
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