Question
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. pennyb. a Mexican pesoc. a Picasso paintingd. a plastic credit card
Step 1
They are: - Medium of exchange: Money is used to buy and sell goods and services. - Store of value: Money holds its value over time and can be saved, retrieved and exchanged at a later time. - Unit of account: Money measures the value of goods and services. It's Show more…
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