Answer:
Role of Money in Each Part of the Story:
1. Tim can easily determine that the price of the computer is more than the price of the vacation = Unit of Account
2. Tim has $1,537 in his checking account = Store of value
3. Tim writes a check for $1,299= Medium of Exchange
Explanation:
Money is countable and can be used to value exchanges and calculate profits and losses, income and expenses, and debts and wealth. It can also be stored currently, retrieved at a later date, and exchanged for value in the future without significant loss of value. Money facilitates transactions between parties.
The factor of increase in the money supply that occurs with each dollar of increase in reserves is called money multiplier.
<h3>What is money multiplier?</h3>
Money multiplier determines how much money would increase when there is a change in the reserves. The money multiplier is a function of the reserve requirement. The reserve requirement is the percentage of deposits that must be kept as reserves with the Central Bank.
Money multiplier = 1 / reserve requirement
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Answer:
An organization of workers that negotiates with employers, as a group, over wages and working conditions.
Explanation:
Answer:
$555,750
Explanation:
First we need to calculate the units produced in the month of August.
We know that the opening inventory of finished goods is equal to 40% of that month's sale.
- The Opening inventory of August will be: 11100 * 0.4 = 4440
- Units produced in august relating to August sales will be 11100 - 4440 = 6660
- Units produced in August relating to September's sales will be 12600 * 0.4 = 5040
- Total units produced in August = 6660 + 5040 = 11700 units
- labour hours required for August = 11700 * 2.5 = 29250 direct labor hours
- So, Direct labor Cost = 29250 * 19 = 555750
The correct descriptions are matched with their account types below:
Basic Checking account - Does not earn interest and has a low minimum balance
Interest-Bearing Checking account - Pays higher interest than a savings account
Savings account - Earns interest and allows unlimited atm use
Money Market deposit account - Restricts access to funds through withdrawals