MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 14, Problem 1SQ
To determine
The representation of the use of money.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Buying a cup of coffee with a dollar bill represents the use of money as a
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 value
Which of the following is money?
A.
A check is money because while it is in circulation the quantity of money increases by the amount of the check.
B.
Deposits are money, checks are not money, and credit cards are not money.
C.
A credit card is money because it allows you to take a loan at the instant you buy something.
D.
Currency is money and credit cards are money because they are means of payment, but deposits are not money.
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
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- 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 gradedarrow_forwardThe use of money as a medium of exchange represents the most important service that money renders. True or Falsearrow_forwardDifferentiate the barter vs. coinage vs. paper/polymer.arrow_forward
- If raw whole eggs of uniform size were used as money, which of the following functions of money would be the hardest for this to satisfy? Select one: a. store of value b. unit of account c. medium of exchange d. certificate of goldarrow_forwardWhich 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?arrow_forwardAn advantage that money has over other assets is that it: Answer a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value overtime d. Has lower transaction costs to use as a means of payment than other assetsarrow_forward
- Bitcoin is not a suitable form of money because its price is highly variable. Which one of the functions of money does this violate? A. Store of value B. Medium of exchange C. Unit of accountarrow_forwardIf you write a cheque on a bank in Saskatoon to purchase a new Nissan Murano, you are employing money as: Multiple Choice . a)all of these answers are true. b)a medium of exchange. c)a store of value. d)a unit of account.arrow_forwardIn the POW camps during World War II, cigarettes fulfilled the functions of money because they acted as a: Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box. medium of exchange in that the cigarettes could be exchanged for staple foods, chocolate, or anything else the POWs might have and offer for trade. unit of account in maintaining a constant price. store of value in that prisoners could save them up and smoke them. store of value in that prisoners could save up many cigarettes and trade them in for large purchases. medium of exchange in that cigarettes were needed by smokers because they are addictive. unit of account in allowing relative values to be read from prices.arrow_forward
- Anything can be money if it acts as aa. unit of account.b. store of value.c. medium of exchange.d. All of the answers are correct.arrow_forwardDebit cards are considered as __________ moneyarrow_forwardIn our daily life we use credit cards and debits cards for payments. Are credits cards considered money, yes or no? How about debit cards? Please provide the reasoning.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning