Let’s find out what counts as money. in this chapter, we used a typical definition of money: "a widely accepted means of payment." under this definition, are people using "money" in the following transactions? if not, why not?
a. lucy sells her saab to karen for $1,000 in cash.
b. lucy sells her saab to karen for $1,000 worth of old bob dylan records.
c. lucy sells her saab to karen for $1,000 in checking account balances (transferred by writing a check).
d. lucy sells her saab to karen by karen promising $1,000 worth of auto detailing services over the next year.
e. lucy sells her saab to karen for $1,000 worth of revolutionary war"era continental dollars.
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Let’s find out what counts as money. in this chapter, we used a typical definition of money: "a wid...
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