Question

What are the three vital 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. A credit card b. A checking account at the Bank of America c. A $ 10 bill d. Upper A diamond ring e. Plastic sheets used to make Visa cards f. Ancient Roman coins g. GM bonds

Answer 1

The answer is below

Step-by-step explanation:

The three vital functions that money​ performs are the following

1. i) medium of​ exchange,

ii) unit of​ account

iii) store of value

2. Items​ "B (A checking account at the Bank of America)" perform all of these functions and are money.

Items​ "A. (A credit card)

B. (A checking account at the Bank of America)

D. (A Upper A diamond ring)

E. (Plastic sheets used to make Visa cards, )

F. (Ancient Roman coins)

G. (GM bonds) perform some of these functions and are not money.