Mika takes out a personal loan from her bank so that she can replace her furnace. From that point forward, Mika writes her bank a check for $150 every month until the loan has been satisfied. Mika’s payments demonstrate how money acts as a ______.
a. unit of account
b. store of value
c. medium of exchange
d. means of deferred payment
d. means of deferred payment
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If the long-run aggregate supply curve is vertical,
A) the trade-off between unemployment and inflation cannot be permanent. B) the short-run Phillips curve must be vertical. C) the economy stays at the natural rate of inflation in the long run. D) unemployment and inflation are positively related in the long run.
If an individual uses money from a demand deposit account to purchase a U.S. savings bond
A) M1 decreases and M2 stays the same. B) M1 stays the same and M2 increases. C) M1 stays the same and M2 stays the same. D) M1 decreases and M2 decreases.
The share of Americans who pay no personal income tax
a. has been relatively constant at approximately 33 percent throughout 1975-2010. b. was relatively constant near 33 percent between 1975 and 2000 . but it has increased during the past decade, reaching nearly half of adult Americans in 2010. c. was relatively constant near 33 percent between 1975 and 2000 . but it has fallen during the past decade, receding to only 18 percent in 2010. d. rose steadily from 18 percent in 1975 to nearly 50 percent of adult Americans in 2000 . but it receded to less than 40 percent in 2010.
How does the U.S. Census Bureau define a family?
(A) A father, mother, and children regardless of where they live. (B) Two or more people related by birth, marriage, or adoption who live in the same housing unit. (C) A group of people who live together and share the expenses of a single housing unit. (D) All people who live in a housing unit regardless of relationship.