In 2021, Venmo was attempting to move beyond its main use as a way to transfer funds among friends. An article on marketwatch.com quoted Darrell Esch, Venmo's general manager as saying that "the goal is to move beyond being an app for payment between friends" to become a \"really ubiquitous digital wallet that lets consumers spend and pay" at retail businesses. Source: Emily Barry, "Here's How PayPal hopes to Turn Venmo into the Next PayPal," marketwatch.com, August 1, 2020. Does Venmo fulll the role of a medium of exchange? Does it matter for your answer that many retail stores won't accept it in payment for goods and services? A. Yes, as long as some sellers are willing to accept it as payment for goods and services, even if other sellers are not. a} B. No, it fullls this role only if all sellers are willing to accept it as payment for goods and services. C. No, in orderto fulll this role, the currencyin this case, Venmomust be issued by the government. D. Yes, because it gives people a way to pay for goods and services when they don't want to use cash or checks. The Fed doesn't count the balances in Venmo accounts in either its M1 or M2 measures of the money supply. Briey discuss whether the balances in Venmo accounts and the balances that people have with similar apps should be included in M1. Uncertain, as this is a complicated issue and would depend on whether the balances in Venmo were transferred from checking accounts or credit cards. No, in order to be included in M1, money must be able to serve as a medium of exchange and Venmo does not serve this function. Definitely not, in order to be included in M1, currency must be issued by the government, and Venmo is essentially a form of emoney. . Yes, any form of currency used for the payment of goods and services should be included in the M1 money supply