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(1 point)
Responses
A savings account can suddenly buy much more than before.
A savings account can suddenly buy much more than before.
The profits of a clothing factory increase rapidly.
The profits of a clothing factory increase rapidly.
The length of time it takes to pay off a home loan decreases by five years.
The length of time it takes to pay off a home loan decreases by five years.
A local store begins offering ice cream bars at two for $5.00 instead of three for $5.00.
5 answers
The response that indicates that deflation is occurring is:
A savings account can suddenly buy much more than before.
Deflation is characterized by a general decrease in prices, which means that the purchasing power of money increases, allowing savings to buy more goods and services over time.
The response that best highlights how money differs from barter is:
Money has value only because people agree that it has value.
This emphasizes the notion that the value of money is based on social consensus, unlike barter, which relies on the direct exchange of goods and services without a standardized medium of exchange.
The function of money that Bryan is demonstrating by comparing the prices of three different backpacks to find the best deal is:
unit of account.
This function refers to the role of money as a standard numerical unit of measurement that allows individuals to compare the value of different goods and services, making it easier to assess their worth.
5 answers
9 answers
1 answer
1 answer