Foundations of Economics, 8th Edition

Chapter Checkpoint

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Study Plan Problems and Applications

1. What is money? Would you classify any of the items in List 1 as money?

   List 1

   

   Table 1 Full Alternative Text

2. What are the three functions that money performs? Which of the following items perform some but not all of these functions, and which perform all of these functions? Which of the items are money?

   • A checking account at the Bank of America

   • A dime

   • A debit card

3. Monica transfers $10,000 from ...