Question
The English economist William StanleyJevonsdescribed a world tour during the 1880s by a French singer, MademoiselleZlie. One stop on the tour was a theater in
The English economist William StanleyJevonsdescribed a world tour during the 1880s by a French singer, MademoiselleZlie. One stop on the tour was a theater in the Society Islands, part of French Polynesia in the South Pacific. She performed for her usual fee, which was one-third of the receipts. This turned out to be 3 pigs, 23 turkeys, 44 chickens, 5,000 coconuts, and "considerable quantities of bananas, lemons, and oranges.'' She estimated that all of this would have had a value in France of 4,000 francs. According toJevons, "as Mademoiselle could not consume any considerable portion of the receipts herself, it became necessary in the meantime to feed the pigs and poultry with the fruit.'' Which of the functions of money does this payment fulfill? Which does it fail to fulfill?
A complete answer will list the functions of money and evaluate each of them. This assignment is worth up to 3 points.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started