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Veronica received a federal income tax refund of $600 in May 2016. Veronica put this money in a ...

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Veronica received a federal income tax refund of $600 in May 2016. Veronica put this money in a ...

Question 1.

When you pay $8 for salad you ordered for lunch, you are using money as a(n)

▸ store of value.

▸ investment good.

▸ medium of exchange.

▸ unit of account.

Question 2.

Veronica received a federal income tax refund of $600 in May 2016. Veronica put this money in a saving account so that she could spend it when she went on vacation in July 2016. This is an example of money serving as a(n)

▸ store of value.

▸ medium of exchange.

▸ unit of account.

▸ investment good.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

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This site is awesome

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