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Dimas [21]
3 years ago
12

Indicate which of the functions of money (a medium of exchange, a unit of account, and a store of value) each of the following p

erforms in the U.S. economy.
Medium of Exchange Unit of Account Store of Value

Plastic credit card
House
Japanese yen
U.S. dollar bill
Business
1 answer:
kondaur [170]3 years ago
7 0

Answer:

  • Credit Card : Medium of Exchange , Standard of Deferred Payment
  • Japanese Yen : Medium of Exchange
  • US Dollar Bill : Standard of Deferred Payment
  • House : Not Money ; Real Estate serving as Store of Valye

Explanation:

Money is something which is generally accepted as a medium of exchange, unit of value, store of value & standard of deferred payment.

  • Medium of Exchange : For transferring purchasing power between buyers & sellers
  • Unit of Value : As a common denomination in which all things value is measured
  • Store of Value : For preserving wealth in economic, stable value.
  • Standard of Deferred Payment : As a tool for delayed payments settlements

Plastic Credit Card serves as a Medium of Exchange, as it helps in transactions. It is also a form of standard of deferred payment, as the bank collects spent amount from credit card by the customer later

Japanese Yen acts as a Medium of Exchange, as it helps settle transactions.

US Dollar Bill implies that the settlement is to be done later. So, it is a standard of deferred payment.

House is not money. Its just a real estate asset, bought by money. It acts as a store of value,  as preserve for wealth

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