The cost of a burger can be expressed in terms of the number of dollars it takes to buy it. Sam paysâ $10 toâ Bessie's Burgers for getting 2 burgers. Bessie's Burgers accepts theâ $10 bill from Sam because of the belief that the bill will still be accepted as a form of payment after a decade.
(a) It is difficult forâ Bessie's Burgers to hire Sam and pay him in the form of burgers.
Define the following:
1. Store of value
2. Medium of exchange
3. Unit of account.
(b) Which of the following statements regarding the types of money isâ true?

A. Modern societies use money that is not backed by a physical commodity.
B. Paper money existed throughout human history.
C. Fiat money is valuable in and of itself.
D. Fiat money was invented in 1000 AD.

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.