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Table HW10 1 Consider the following traders who meet. Bob has an apple and wants an orange I Ted has an oran and wants a

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Table HW10 1 Consider the following traders who meet. Bob has an apple and wants an orange I Ted has an oran and wants a each M has a ear and wants an a le Alice has a peach and wants an orange Refer to Table HWIO a 1. Which if any pairs have a double coincidence of wants? a. Bob with Alice b. Ted with Alice c. Bob with Mary, Ted with Bob, and Ted with Alice d. None of the pairs above have a coincidence of wants with each other Which of the following best illustrates the unit of account function of money? a. You list prices for candy sold on your Web site, www.sweettooth.com, in dollars. b. You pay for your WNBA tickets with dollars. c. You keep $10 in your baclqaack for emergencies. d. None of the above is correct. Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate? a. store of value b. medium of exchange c. unit of account d. None of the above is correct. Which of the following best illustrates the medium of exchange function of money? a. You keep some money hidden in your shoe. b. You keep track of the value of your assets in terms of currency. c. You pay for your double latte using currency. d. None of the above is correct. An item that people can use to transfer purchasing power from the present to the future is called a. a medium of exchange. 13. a unit of account. c. a store of value. d. None of the above is correct. Current US. currency is a. fiat money with intrinsic value. b. at money with no intrinsic value. c. commodity money with intrinsic value. d. commodity money with no intrinsic value. Commodity money is a. hacked by gold. b. the principal type of money in use today. c. money with intrinsic value. d. receipts created in intemaonal trade that are used as a medium of exchange. Fiat money a. has no purchasing power. b. has no intrinsic value. c. may be used as a medium of exchange, but is not legal tender. d. performs all the functions of money except providing a unit of account

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