In recent years, the paper currency in Venezuela has lost nearly all of its value, and most people have stopped accepting it in payment for good and services. A professor at a university in Caracas, the country’s capital, described how people have begun accepting eggs rather than currency. For example, the professor pays two eggs to park her car. Her university department uses cartons of eggs to pay computer programmers. She told a reporter that fruits and vegetables, such as onions or bananas, didn’t work well, but “the egg is perfect.”

a. During this period in Venezuela, were eggs serving as money at this professor’s university? Briefly explain whether eggs meet all five criteria for serving as a medium of exchange. 

b. What advantages do eggs have over fruits and vegetables in serving as a medium of exchange? Do eggs have any disadvantages? 

c. Why did this professor and other people at her university bother using eggs rather than trading goods and services directly with each other?