When money provides a yardstick that allows individuals to compare the relative values of goods and services, it is functioning as a
A) standard of deferred payment. B) medium of exchange.
C) unit of accounting. D) store of value.
C
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Last year your job at the university cafeteria paid you $9 an hour and the price of a music download was $1.00. This year your cafeteria job pays $9.90 per hour and download costs $1.10. You are clearly
A. worse off because of inflation. B. worse off because the download is now relatively more expensive. C. better off because your wage rate went up. D. better off because the download now costs less work.
Chapter 15 suggests that the Community Reinvestment Act (CRA) provides an example of
A) bad intentions and bad unintended consequences. B) good intentions and bad unintended consequences. C) bad intentions and good unintended consequences. D) good intentions and good unintended consequences.
There are two sets of x, y points on a straight line in a two-variable graph with y on the vertical axis and x on the horizontal axis. What would be the linear equation for the line if one set of points was (0, 9) and the other set was (13, 61)?
Please provide the best answer for the statement.
The nominal rate of interest is 2% and the anticipated rate of inflation is 2%. What is the real rate of interest?
A) 4% B) 2% C) -4% D) 0%