Attempts: Keep the Highest: /3 Aa Aa 1. The roles of money Consider the followin

Question

Attempts: Keep the Highest: /3 Aa Aa 1. The roles of money Consider the following scenario: Kristen wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $899, and the vacation is priced at $650. She has only $1,100 in her checking account, so she cannot afford to purchase both. After much thought, Kristen buys the computer and writes a check for $8 Identify what role money plays in each of the following parts of the story. (Hint: Select each role only once.) Role of Money Medium Unit Store of Exchange of Account of Value a check for $899 Kristen can easily determine that the price of the computer is more than the price of the vacation. Kristen has $1,100 in her checking account 2013 Cengage Leaning except as noted. All rights

Explanation / Answer

(1) Kristen writes a check - Medium of Exchange

[Since the check is written to pay for some economic transaction]

(2) Kristen can easily determine the price of a computer - Unit of Account

(3) Kristen has $1100 in checking account - Store of Value

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