# Discuss the function of money assignment

Discuss the function of money assignment
31) After you finish your degree, suppose your salary is \$52,000 per year. This is an example of using the function of money known as
A) medium of exchange.
B) a unit of account.
C) a store of value.
D) M1.
32) Suppose prices are quoted in dollars and transactions are conducted in pesos. The dollar serves as a
A) medium of exchange.
B) store of value.
C) unit of account.
D) all of the above
33) Suppose that I find out from an L.L. Bean catalogue that a sweater costs \$30.00. In this case, money is serving as a
A) medium of exchange.
B) unit of account.
C) store of value.
D) double coincidence of want.
34) As a unit of account, money is used to
A) state prices of all goods and services.
B) pay off future debts.
C) hold purchasing power over time.
D) exchange for goods and services.
35) Cigarettes served as money in some POW camps during World War II. Given this fact, we would expect to observe
A) no one ever smoking a cigarette.
B) people usually resorting to barter rather than using cigarettes as money.
C) prices of other goods expressed in terms of cigarettes.
D) only government-issued cigarettes being accepted as money.
36) Catherine compares the prices of candy bars in order to get the “best buy.” This comparison represents using money as a
A) medium of exchange.
B) store of value.
C) unit of account.
D) none of the above
37) Frank spends Saturday afternoon at the Dodge dealership looking at new trucks. The model he is interested in has a sticker price of \$29,000. The fact the price is quoted in dollars is an example of money as a
A) medium of exchange.
B) unit of account
C) store of value.
D) All of the above answers are correct.
38) In a world with no money, costs are expressed in terms of other goods. If one video game costs two hamburgers, and a hamburger costs three sodas, how many sodas would it take to buy a video game?
A) 6
B) 5
C) 3
D) 3/2
39) Which of the following is an example of using money as a store of value?
A) paying for a new dress with a credit card
B) paying cash for a new automobile
C) paying rent with a check on a demand deposit
D) keeping \$200 on hand for an emergency
40) When you toss your spare quarters into a jar so you can use them later at the laundromat, you are using money in its function as a
A) medium of exchange.
B) unit of account.
C) store of value.

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