1. The "idea" of money in people's minds is changing now faster than ever.There is an accepted definition of "money" as a generally accepted medium of exchange.The text also talks about the functions of money.This question relates to both the definition and functions of money.Years ago these were very mundane and bothersome issues for students, but as change happens, those days are gone.There are several parts to this question, you are required to answer each lettered part if you chose to do number 1 List the functions of money and put a explanation for each function.
2. Pick one of the major alternative digital concepts that may be money.I.e. choose bitcoin or etherium, etc.Explain how each meets or doesn't meet each of the functions of money.
3. Consider the idea of "gov-coins" in the supplemental reading for Chapter 03.Given what you have read, based on the functions of money, does this construct have a high or low probability of being "money" if implemented.