Shen wants to both purchase a new laptop and go Florida for spring break. The computer is priced at $1,299, and the vacation is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Shen buys the laptop and writes a check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Shen can easily determine that the price of the laptop is more than the price of the vacation. Shen has $1,537 in his checking account. Shen writes a check for $1,299. Medium of Exchange Unit of Account O Store of Value O O

Shen wants to both purchase a new laptop and go Florida for spring break. The computer is priced at $1,299, and the vacation is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Shen buys the laptop and writes a check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Shen can easily determine that the price of the laptop is more than the price of the vacation. Shen has $1,537 in his checking account. Shen writes a check for $1,299. Medium of Exchange Unit of Account O Store of Value O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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