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Principles Of Macroeconomics

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Money and Its Functions [WLO: 1] [CLOs: 2, 4]

Prior to beginning work on this discussion, read Alejandro Chafuen’s article, Moralists and Money: From Gold to Bitcoin (Links to an external site.), and respond to the following components:

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  • Define money and describe its functions.
  • Is money a root of all evil? Why or why not?
  • How are paper money (fiat) and commodity money different? How can paper money be validly used as money?
  • Are credit cards money? Why or why not?
  • Are cryptocurrencies such as Bitcoin, Ethereun, Ripple, Litecoin, Monero, money? Why or why not? Discuss thoroughly.
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