Question

"Gold may be a better store of value than US money,but would function as a poorer...

"Gold may be a better store of value than US money,but would function as a poorer medium of exchange and unit of account than US money." Do you agree with this statement? If yes, explain why you agree. If no, explain why disagree.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Money is called money becasue of its funcitons like store of value, medium of exchange and unit of account. Gold is a precious metal which has store of value and can be treated as investments. One can gain by changes in price fluctuations. But it is not so portable if used as medium of exchange and for unit of account it has to be available in various denominations. These two propeties are not easy with gold. Gold also loss its value due to wear and tear loss.

Gold is a commodity money.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Money is defined as a medium of exchange, unit of account and store of value. Explain...
Money is defined as a medium of exchange, unit of account and store of value. Explain these in details
QUESTION 10 Commodity money has value independent of its use as money. has little to no...
QUESTION 10 Commodity money has value independent of its use as money. has little to no value independent of its use as money. is backed by a valuable commodity such as gold. can be used to purchase commodities, but not services. 2 points    QUESTION 11 If whole tomatoes were money, which of the following functions of money would be the hardest for tomatoes to satisfy? unit of account certificate of gold medium of exchange store of value 2 points...
Please answer all questions, thanks. 1. The advantage of money as a store of value is...
Please answer all questions, thanks. 1. The advantage of money as a store of value is that: A. It is the only asset that never loses its value. B. Its value does not diminish as inflation accelerates. C. Its value is guaranteed by the government. D. It provides investors with a high return. E. It provides the convenience of being already in the form that it can be used as a medium of exchange. 2. When money allows us to...
Money can be used as a medium of exchange, unit of account and store of value....
Money can be used as a medium of exchange, unit of account and store of value. Question 1 options: True False Question 2 (1 point) If it is difficult to convert an asset into a country's medium of exchange, we say that asset is liquid. Question 2 options: True False Question 3 (1 point) If money has no intrinsic other than the value goverment gives it, we call the money fiat money. Question 3 options: True False
4 marks) “In an efficient market, money managers and investment advisers have little value to investors.”  ...
4 marks) “In an efficient market, money managers and investment advisers have little value to investors.”   Do you agree or disagree with this statement? Explain.
1) Good money functions as a a. means of exchange, unit of account, and store of...
1) Good money functions as a a. means of exchange, unit of account, and store of value. b. valuable commodity like gold, silver, gem diamond, and so on. c. fiat, even if some may not accept it as a medium of settling debt. d. All the above answers are correct. 2) Which policy tool does the Fed often use to change the quantity of money in the economy? a. Open market operations. b. The discount rate. c. The required reserve...
An open market sale is: A. The Fed buys Treasury securities from banks, causing the money...
An open market sale is: A. The Fed buys Treasury securities from banks, causing the money supply to rise. B. The Fed buys Treasury securities from banks, causing the money supply to fall. C. Banks buy Treasury securities from the Fed, causing the money supply to rise. D. Banks buy Treasury securities from the Fed, causing the money supply to fall. When you go to a store, you assume the seller will accept your cash because US dollars: A. are...
The public trust in auditors’ judgments and reputation is vital of the audit function as value-added...
The public trust in auditors’ judgments and reputation is vital of the audit function as value-added services that lend credibility to published financial reports. Do you agree or disagree with the given statement? Explain your answer.
Part 1. Explain why Frederick Winslow Taylor believed scientific management would reduce the tension between workers...
Part 1. Explain why Frederick Winslow Taylor believed scientific management would reduce the tension between workers and owners. Include two quotations from the assigned readings to support your argument. Part 2. Charlie Chaplin’s Modern Times offers a parody of the assembly line grounded in real events. Based on course material, identify two scenes from the movie (you can either describe them briefly or use screen shots) that capture historical realities and one that you believe is an unwarranted exaggeration. Part...
Please I need this philosophy question answered. In Section 5 of Book I of the Nicomachean...
Please I need this philosophy question answered. In Section 5 of Book I of the Nicomachean Ethics, Aristotle tries to clear the way for his own account of eudaimonia (often translated as “happiness,” but better translated as —living well, flourishing, thriving, success, etc.) by arguing against three of the major things (or lifestyles) that people of his day assumed would bring them (or would perhaps be) eudaimonia: (1) sense pleasures, (2) fame or high social status (he calls it “honor,”...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT