Question
please help me with the questions.
1. Money is: ao the same as income. bi anything that is commonly accepted as medium of exchange. e the value of all coins and c currency in circulation at any time. diall of the above. 2. Which of the following statements about money is correct? al Moncy is neither income nor wealth. Moncy is not income but wealth ci Money is both income and wealth. eMoney is sometimes income and other times wealth. 3. Mike makes excellent cheesecake and Sue is very good at charging the oil in a car. Sue agrees to change the oil in Mike's car if he makes her a cheesecake. This is an example of a legal tender. w barter e commodity money. efiat money 4. Mary wants to trade piano lessons for ice-skating lessons, Sarah wants to trade ice- skating lessons for piano lessons. Mary and Sarah have: i the basis for a liquidity exchange. wa double incidence of demand. a the basis for a double fiat exchange. e a double coincidence of wants, 5. Dena won $1,000 at a bingo game, She deposits her $1,000 winning into a money market fund so that she can use the money next year to pay her tuition. This is an example of money serving as a (an) al unit of account. medium of exchange. store of value. investment good.
Explanation / Answer
1.
B)
anything that is generally accepted as a medium of exchange.
this is the one of the three functions of money
