Question: HW 6 : Ch 3 4 , 3 5 3 Discussion Question 3 4 - 0 1 6 a . The three basic functions of

HW6: Ch34,35
3
Discussion Question 34-01
6
a. The three basic functions of money are
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medium of exchange, store of account, and unit of value.
medium of exchange, unit of account, and store of value.
account of exchange, medium of account, and store of value.
medium of exchange, record of account, and assessment of value.
b. Rapid inflation can undermine money's ability to perform its functions. During periods of runaway inflation,
money cannot hold sufficient value to act as a medium of value.
the value of money falls so money cannot serve as a measure of price.
the future value of money cannot be predicted so money cannot act as a predictor of value.
people often revert to barter because money fails as a medium of exchange.
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HW 6 : Ch 3 4 , 3 5 3 Discussion Question 3 4 - 0

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