Kevin has saved $30 per week to buy a new Blu-Ray player. He compares two different models: a Panaview that is priced at $130 and a Zony model that is priced at $140. Kevin decides to purchase the Zony Blu-Ray player for $140. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Medium of Exchange Unit of Account Store of Value Kevin can easily determine that the Panaview model has a lower price than the Zony model. Kevin saved $30 per week. Kevin pays $140 for the Blu-Ray player.
Kevin has saved $30 per week to buy a new Blu-Ray player. He compares two different models: a Panaview that is priced at $130 and a Zony model that is priced at $140. Kevin decides to purchase the Zony Blu-Ray player for $140. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Medium of Exchange Unit of Account Store of Value Kevin can easily determine that the Panaview model has a lower price than the Zony model. Kevin saved $30 per week. Kevin pays $140 for the Blu-Ray player.
Chapter25: Money, Banking, And The Federal Reserve System
Section: Chapter Questions
Problem 3P
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Question
Kevin has saved $30 per week to buy a new Blu-Ray player. He compares two different models: a Panaview that is priced at $130 and a Zony model that is priced at $140. Kevin decides to purchase the Zony Blu-Ray player for $140.
Identify what role money plays in each of the following parts of the story.
Hint: Select each role only once.
|
Role of Money
|
Medium of Exchange
|
Unit of Account
|
Store of Value
|
|
|---|---|---|---|---|
| Kevin can easily determine that the Panaview model has a lower |
|
|
|
|
| Kevin saved $30 per week. |
|
|
|
|
| Kevin pays $140 for the Blu-Ray player. |
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