Class_22_worksheet

Class_22_worksheet - Economics 101 P. Conway, Fall 2011...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics 101 P. Conway, Fall 2011 In-class worksheet, Class 22 1. Financial intermediaries are firms that extend credit to borrowers using funds raised from savers/depositors . Dorothy had a wonderful idea for an activity for her sorority. Each of the 100 sisters kicks in $20 each month. Each month the sorority has a drawing from all their names, and the winner gets a $4000 credit at a local travel agency. Has Dorothy created a financial intermediary? Why or why not? NO. This is a lottery. There are no savers and borrowers. 2. Barter is the direct exchange of goods or services for other good or service . J.S.G. Boggs (born Steve Litzner) is most famous for his hand drawn, one-sided United States bills that he then exchanges for goods and services just like real money. Boggs' drawings show the hand of a master draftsman so much so that he has been arrested for his counterfeiting in England and Australia. Are these “Boggs bills” money?
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/13/2012 for the course ECON 101 taught by Professor Balaban during the Fall '07 term at UNC.

Page1 / 2

Class_22_worksheet - Economics 101 P. Conway, Fall 2011...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online