Solution-Now in the market for a new car

Now in the market for a new car

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Reference no: EM131735858

1. The roles of money

Dmitri 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.

Hint: Select each role only once.

Role of Money

Medium of Exchange

Unit of Account

Store of Value

Dmitri writes a check for $4,000.

Dmitri can easily determine that the price of the Super is more than the price of the Duper.

Dmitri has saved $4,000 in his checking account.

Reference no: EM131735858

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Now in the market for a new car

Reference no: EM131735858

Reference no: EM131735858

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