Quiz: Chapter 11 Quiz This Question: 1 pt Submit Qutz 100f 20 (0 complete) This

Question

Quiz: Chapter 11 Quiz This Question: 1 pt Submit Qutz 100f 20 (0 complete) This Quiz: 20 pts possible Money makes a variety of economic transactions possible. In the following three situations, determine whether money is involved in the transaction in prison campa during World War I, and in some prisons today, cigarttes circulate among prisoners. For example, an iPod might cost two cartons of cigaretes whereas a magazine might only cost two cigarettes. Which functions of money are oigaretes fulfiling in this case? (Check all that apply) A. Fiat money B. Unit of account. D. Store of value Over the last 50 years, credit cards have Are credit cards money? become an increasingly popular way for people to purchase goods and services A. Yes, because s B. No, because not everyone acopts credit cards. you are spending your money since you have to pay the credit card company back O c. No, because you credit cards are not assets D.

Explanation / Answer

Ans)

B. Unit of Account
C.Medium of Exchange
D.Store of value

B. No, because not everyone accepts credit cards.

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