Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

The functions of money include; (1)  medium of exchange,  (2)  store of value, and (3)  a calculate of worth.  Due to money is acceptable as a form of payment for all commodities, barter is no longer Required.  Money can be easily stored in a tin can or bank account, so commodities require not be stored and can be purchased when needed.  Because money is acceptable in virtually all transactions, prices can be stated in terms of dollars or yen thereby simplifying transactions substantially.  In other words, money is the grease that lubricates any difficult economic system

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9538890

Have any Question?


Related Questions in Microeconomics

Question in may 2018 the us unemployment rate fell to 38

Question: In May 2018, the U.S. unemployment rate fell to 3.8 percent, its lowest level in 18 years. An unemployment rate this low is often viewed as being very good for the economy, so explain how this low unemployment ...

Hello could you please explain how to calculate this

Hello, Could you please explain how to calculate this problem? If your tuition is $2,000 this semester, your books cost $400, you can only work 10 rather than 40 hours per week during the 15 weeks you are taking classes ...

Question for all of their diversity many less developed

Question: For all of their diversity, many less developed countries are linked by a range of common problems. What are these problems? State only FOUR (4) characteristics of the developing world. Which do you think are t ...

Question describe the current problem that the annual

Question: Describe the current problem that the annual budget deficit presents to the US. Indicate what the impact of not solving the issue will cause and why you think it has not been solved. On a scale of 1 (Low) to 5 ...

Question the data found in teh attached file below contains

Question: The data found in teh attached file below, contains information from the year-2000 Professional Golfers' Association tour. It includes the players' names, their average score, the average distance they drive th ...

Question consider two identical countries a and b in our

Question: Consider two identical countries, a and b, in our standard OLG model. In each country, the population of every generation is 200 and each young person wants money balances worth 50 goods. Assume that the money ...

Question there are three key organizational resources that

Question: There are three key organizational resources that are relevant and important from the perspective of MIS and that help to create competitive advantages for businesses: information, people, and information techn ...

Question brazil can produce 100 pounds of beef or 10 autos

Question: Brazil can produce 100 pounds of beef or 10 autos; in contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advan ...

Discussion wilderness backpacking expeditionsfor this

Discussion: Wilderness Backpacking Expeditions For this discussion imagine that you and some friends want to start a business to take tourists on wilderness backpacking expeditions. You have to use your own money to star ...

Question social security and compound interestsinterest

Question: Social Security and Compound interests Interest rate is 4% per year. Would you accept a proposal to pay $10,000 for one year and will be paid back $15,000 in the following year? 1. Will you accept the proposal ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As