Question

The $100 and $1: Two well-worn bills arrived at the Federal Reserve Bank to be retired - a $100 and a $1. As they traveled down the conveyor belt, they struck up a conversation. The hundred reminisced about the interesting life he had, traveling all over the country. "'ve been to the finest restaurants, Broadway shows, Las Vegas, and amusement parks," he said. "I even want on a Caribbean cruise once. Where have you been?" "Oh," said the one dollar bill, "l've been to a Methodist church, an Episcopal church, a Baptist church, and a Lutheran church." "What's a church?" asked the hundred. What function of money is illustrated by this "joke?"

Answer 1

The function of money that has been explained here is that money acts as medium of exchange for all types of goods and services. As per the .above joke the money has been exchanged for various kind of services at various places thus making the purchase of services more easy and convenient. It also has the acceptability all over the nation and hence can be easily exchanged in return for the goods and services.