Answer:
The answer to the three fill in the banks as per order given in question are- store of value , unit of account , medium of exchange.
Explanation:
When $500 are kept in piggy bank to buy laptop, it illustrates the store of value function of money. This is a function where money is kept or stored to purchase some item in the future, given money doesn't lose its purchasing power .
The $500 price of laptop shows the unit of account function of money , where money is the standard numerical of measurement for the goods and services or any other transaction in the market.
The $500 which was used to buy the laptop shows the medium of exchange function of money , where money is used as intermediary for exchange of goods and services.
In the past, the policy-making relationship between states and the federal government was called Dual federalism, since there was a clear separation of policy responsibility between the two levels.
Dual federalism, also known as hierarchical federalism or shared sovereignty, is a political arrangement in which powers are clearly divided between federal and state governments, with state governments exercising delegated powers without federal interference. .
Even the House and Senate are examples of dual federalism. Both houses may be involved in approving federal laws that affect different states and require state involvement, but issues can only be passed through the senator's desk or state senators. representative.
Learn more about Dual federalism here: brainly.com/question/5544302
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Answer: Option (c) is correct.
Explanation:
Correct Option - An increase in the state of technology.
The aggregate supply curve in the long run is a vertical line and parallel to the y-axis. |t is perfectly inelastic in the long run.
Now, if there is increase in the money supply in the economy then this will increase the aggregate demand in the short run. Hence, aggregate demand curve shift rightwards, as a result real GDP increases in the short run and move beyond the potential level of real GDP.
Also, there is a creation of inflationary gap in the economy, as a result real GDP shifts back to its initial position at potential real GDP. So, there is no increase real GDP in the long run.
Similarly, decrease in interest rates and an increase in government spending will also results in inflationary gap in the economy. Therefore, doesn't affect the real GDP in the long run.
But an increase in the state of technology is capable of increasing real GDP in the long run. Improvement in the state of technology will shift the long run aggregate supply curve rightwards, as result there is an increase in potential GDP in the long run.
Answer:
B.The Svensons Assets increased by $1800
Explanation:
The Svensons assets increased by $1,800 because even if they purchased the refrigerator for $1,900, the market value of the refrigerator is $2,300, so their assets initially increase by this amount.
However, they also withdraw $500 from their savings to pay for the refrigerator, meaning that this asset account is reduced by the same amount.
Thus, an initial increase of $2,300 minus a later decrease of $500 gives us a final $1,800 increase.
