In 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.

In 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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Get to me quickly thank u
Would you consider Noodles or Cigarettes have become the new form of currency within the prison system for inmates? Why?
A space colony on the moon initially used moon rocks as currency, but they became heavy and cumbersome to use. Now most moon citizens store their rocks in a guarded storage facility and receive receipts they can trade for goods and services and/or exchange back for moon rocks at any time. All receipts stand for moon rocks actually held in storage. If there are 10 million moon rocks stored, there will be exactly 10 million moon rocks' worth of receipts circulating. In other words, the moon's currency is: (We'll use this information again in the next question.) A. commodity money B. fully backed C. legal tender D. fiat money
Money functions as a medium of exchange because it is readily exchangeable for other goods. A) True B) False
Explain in detail 'coupon payment' with an example.
The functions of money include the following: Note: choose up to four (4). If you check more than four, 1 point will be taken for each additional choice. A. unit of account B. standard of deferred payment C. medium of exchange D. commodity money E. fiat money F. store of value
Megan writes a check to Harold for $100 and gives the check to Harold for his birthday, Harold alters the check to read $ 1,000 and indorses the check to Samson in exchange for flying lessons. Samson is unaware of the alteration. Samson attempts to deposit the check in his account at Southern Savings and Loan, but Southern rejects the check because of the alteration. Samson can recover: $1,000 from Megan, because Samson is a holder in due course nothing from Megan, because the check has been altered. $1,000 from Megan, because Harold is a holder in due course. $100 from Megan, because Samson is a holder in due course
When you purchase a T-shirt for $25, money is serving which function? Medium of exchange Standard of deferred payments Store of value Unit of account
Banks with excellent credit can borrow from the Federal Reserve. Multiple Choice O $1,000,000 per year $1,000,000 per day ) only an amount equal to their deposits an unlimited amount
Please provide steps by step answer with proper explanation with final answer....
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working