1. Why might an individual find a $20 Federal Reserve Note to be more desirable as a form of money than a $20 gold coin? Which would the government find more desirable? Briefly explain.
2. What are the key differences between using a deerskin as money and using a dollar bill as money?
3. Should the packs of Marlboro cigarettes used to pay taxi drivers in Russia in the late 1980s be considered money? Briefly explain. If Marlboro cigarettes are money, are they commodity money or fiat money? Briefly explain.