Do any of the following qualify as items of money, or preform any of the functions of money (medium of exchange, unit of account, or store value) partially or completely?
- Antique clock
- Plastic sheets used to make Visa cards
- Coins in the Fed museum
- Government bonds
Money is anything that is generally accepted in exchange as payment for goods and services. While the key function of money is acting as a medium of exchange, money also functions as a store of value, standard unit of account, and standard of deferred payment.
Antique clock cannot ...
Real basic money question is highlighted in this solution.