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Homework answers / question archive / Larry wants to purchase a new computer and go to the Caribbean for spring break
Larry wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacation is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Larry buys the computer and writes a check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Medium of Exchange Role of Money Unit of Account Store of Value Larry can easily determine that the price of the computer is more than the price of the vacation. Larry has $1,537 in his checking account. OIO Oo ΟΙΟ Larry writes a check for $1,299.
