For your answers, indicate whether each item can be or not be the things in parentheses in the question. Indicate Yes or No (whether it can be money) and how. Use the matching letters for your answers.

Could each of the following potentially serve as money? Consider each as (1) a medium of exchange, (2) a unit of account, and (3) a store of value.

a.Visa credit card

b.Federal Reserve note

c.Dog

d.Beer mug

a.

b.

c.

d.

Q8:Should the Fed be independent or a government agency subordinate to Congress and the president?

Indicate which you think it should be and why.

Answer: