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Could each of the following items potentially serve as money? Consider each as a medium of exchange, a unit of account, or a store of value. a. Visa credit card. b. Federal Reserve note. c. Debit card d. Picasso painting

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Economics For Today

10th Edition
Tucker
Publisher: Cengage Learning
ISBN: 9781337613040

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Economics For Today

10th Edition
Tucker
Publisher: Cengage Learning
ISBN: 9781337613040
Chapter 24, Problem 2SQP
Textbook Problem
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Could each of the following items potentially serve as money? Consider each as a medium of exchange, a unit of account, or a store of value.

  1. a. Visa credit card.
  2. b. Federal Reserve note.
  3. c. Debit card
  4. d. Picasso painting

(a)

To determine

The potential of the item to be used as money.

Explanation of Solution

Visa credit card is not a medium of money. The visa card does not serve the function of money...

(b)

To determine

The potential of the item to be used as money.

(c)

To determine

The potential of the item to be used as money.

(d)

To determine

The potential of the item to be used as money.

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