Which of the following are considered money in the U.S. economy? Which are not? Explain your answers by discussing each of the three functions of money. a. a U.S. penny b. a Mexican peso c. a Picasso painting d. a plastic credit card
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S. penny is considered money in the U.S. economy because it satisfies all three functions of money - it is a medium of exchange (can be used to buy goods and services), a unit of account (can be used to measure value), and a store of value (can be saved and used in Show more…
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