Could each of the following items potentially serve as money? Consider each as a medium of exchange, a unit of account, or a store of value. A. Visa credit card B. Federal Reserve note C. Debit card D. Picasso painting
- Could each of the following items potentially serve as money? Consider each as a medium of exchange, a unit of account, or a store of value.
A. Visa credit card
B. Federal Reserve note
C. Debit card
D. Picasso painting
As we answer only three subparts and the question has more than 3 subparts, we would be answering the first three subparts only. Please resubmit the question specifying the subparts (up to 3 subparts only) you'd like to be answered.
Money serves the function of medium of exchange, a unit of account and a store of value.
Here, Considering the first one, which is,
A) Visa credit card:
This doesn't potentially serve as a medium of exchange because credit card doesn't hold any store of value and it is neither a medium of exchange nor a unit of account. It is actually a borrowed money which has to be returned by the cardholder and it doesn't hold any intrinsic value too. So the functions of money isn't applicable here.
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