Answer:
Commodity money has intrinsic value whereas the fiat money does not have intrinsic value
Explanation:
Commodity market is the market which have the virtual or physical market place for trading, buying and selling of primary or raw materials. Presently, about 50 major commodity markets worldwide. And this market has intrinsic value, which means that the commodity has value though not used as money.
Fiat money is the currency created as money, usually through government regulation, and has no intrinsic value.
Therefore, the primary value is that the commodity market has intrinsic values whereas the fiat currency does not have.
Answer:
superseding or intervening event
Explanation:
A superseding or intervening event refers to an event that occurred after the initial negligent event that caused the injury or the accident. If this intervening event causes further injury or damage, the tortfeasor is not responsible for it.
The golfer (tortfeasor) is responsible for hitting the spectator (initial negligent act), but the lightning hitting him/her while lying on the floor is considered a superseding event and the golfer is not responsible for any damages caused by the lightning.
Answer:
mc=mr
Explanation:
This is because in economics, the profit maximization rule is represented as MC = MR, where MC stands for marginal costs, and MR stands for marginal revenue. Companies are best able to maximize their profits when marginal costs -- the change in costs caused by making a new item are equal to marginal revenues............................
Answer:
We will have $6488.6 in our account in 6 years.
Explanation:
The rate is 6.1% but it is compounded daily which means that the effective annual interest rate will be different to the stated rate. In order to find the EAR we will use the formula
(1+(R/N))^N)-1
In this case R=6.1% and N is 365 as there are 365 days in a year which means there will be 365 compounding periods as it is compounded daily.
We will put these values in the formula.
(1+(0.061/365))^365)-1
=(1.000167^365)-1=1.062893-1=0.062893
The Ear is 6.289%
Now in order to find how much we will have in our account in 6 years will use the formula
Future value = Present value *(1+Ear)^Number of years.
Future value = 4,500*(1+0.06289)^6=6488.6