Money must serve three functions. Match each scenario to the function of money that it refers to. A. Dollars and cents are a yardstick - the worth of different things can be evaluated by comparing them against each other in terms of how much money they cost B. Instead of exchanging a gallon of milk for a half a block of cheese, customers pay for the milk and for the cheese C. Angel keeps their cash in a lock box because they know it won't deteriorate there over time 21. Medium of exchange 2. Store of value v 3. Unit of account

Money must serve three functions. Match each scenario to the function of money that it refers to. A. Dollars and cents are a yardstick - the worth of different things can be evaluated by comparing them against each other in terms of how much money they cost B. Instead of exchanging a gallon of milk for a half a block of cheese, customers pay for the milk and for the cheese C. Angel keeps their cash in a lock box because they know it won't deteriorate there over time 21. Medium of exchange 2. Store of value v 3. Unit of account

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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