1. The roles of money The roles of money Carlos just graduated from college and

Question

1. The roles of money

The roles of money Carlos just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He's deciding between a Super and a Duper. The Super is priced at $23, 599, and the Duper is priced at $18, 999. After agonizing over the decision, he decides to buy the Duper. He writes the dealership a check for $4,000 and takes out a loan for the remainder of the purchase price. Identify what role money plays in each of the following parts of the story.

Explanation / Answer

Medium of Exchange

Since money is being used to make the payment in exchange for car

Unit of Account

Since money is being used to compare prices

Store of value

Since money is being used to deposit

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