Question: please answer both:) Question 2 1 pts In Money and the Mechanism of Exchange (1875), William Stanley Jevons famously analyzed money in terms of four

please answer both:)

please answer both:) Question 2 1 pts In Money and the Mechanism

Question 2 1 pts In Money and the Mechanism of Exchange (1875), William Stanley Jevons famously analyzed money in terms of four functions. Most modern textbooks, including Mankiw, now list only three functions, subsuming the fourth into the others. Which one does Mankiw NOT mention? O a medium of exchange O a standard of deferred payment a store of value O a unit of account Question 3 1 pts Which statements below are TRUE? (Choose one or more) O The defining function of money is that of a medium of exchange. O Direct bilateral exchange of one commodity for another is called barter and requires the double coincidence of wants between trading partners. O Commodity money has a market value prior to its use as money

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