7th EditionN. Gregory Mankiw
Arthur O'Sullivan, Steven M. Sheffrin
ECONOMICS You probably have either read or seen a televison production of A Christmas Carol, a short novel writen by Charles Dickens, published in 1843. In his book, Dickens told the story of Ebenezer Scrooge, a miser who accumulated wealth more for the sake of having money than to be able to use it to buy goods or services. Scrooge was regarded by all who knew him as a sour old man who hated everything about Christmas. His lack of charity kept even the poorest of the poor from asking him for help. However, after being visited by the ghosts of Christmas Past, Christmas Present, and Christmas Yet to Come, Scrooge came to view his wealth in a different way. Write an essay in which you identify and explain Scrooge’s original point of view about the three functions of money (medium of exchange, unit of account, and store of value). How did the the three Christmas ghosts change his perspective on money? If you have never read this publication, it can be found in almost every library or online, and it is only 124 pages long.