Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.
Barter is best defined as a situation where two individuals each want some or service that the other can provide.
A double coincidence of wants is a situation where two individuals each want some or service that the other can provide.
<h3>What is money?</h3>
Money is anything that is accepted by the general public as a means of payment for products and for repayment of debt.
<h3>What are the functions of
money?</h3>
- Medium of exchange : money can exchanged for goods and services.
- Unit of account : money can be used to determine the value of goods and services
- Store of value : money can retain its value over the long term.
<h3>What is barter?</h3>
Barter is when people exchange goods with goods. For barter to occur, there has to be a double coincidence of wants. This means that someone has to have what you want and that person wants what you have.
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Answer:
CD Certificate of deposit.
Explanation:
Is a type of savings account that has a fixed interest rate and fixed term of months or years. Is a financial product commonly sold by banks, trhift institutions, and credit union. Are similar to savings accounts in the way that they are insured "money in the bank"
Answer:
B) All final goods and services produced in an economy in a given year
Explanation:
That's the definition of GDP, gross domestic product. By virtue of the name, it's the total product (output) of a given economy. It's measured through the values of all final goods and services, so as to not count the same good or service twice.
Answer:
1. Cost to retail ratio = Cost of goods available for sale/ Retail value of goods available for sale
- Cost of goods available for sale = $430000 + $920000 + $62550 = $1412550
- Retail Value of goods available for sale = Retail value of inventory + Net Markup - Net Markdown = $565000 + $1340000 + $61000 - $31000 = $1935000
Cost to retail ratio = Cost of goods available for sale/Retail value of goods available for sale = ($1412550/$1935000)*100 = 73%
Sales value at retail = $1265000
So, Cost Of goods Sold = Sales Value at retail*Cost to retail ratio = $1265000*73% = $923,450
2. Ending Inventory Retail Value = Retail value of goods available for sale-Sales value at retail = $1935000 - $1265000 = $670,000
So, Cost of ending inventory = Ending inventory value at retail*Cost to retail ratio = $670000*73% = $489,100
Answer:
Active monetary policy
d. is the strategic use of monetary policy to counteract macroeconomic expansions and contractions.
Explanation:
- The option a is not correct as when central banks purposefully choose to only stabilize money and prices levels through monetary policy, then this policy is called as passive monetary policy.
- The option b is not correct as it has effect on the economy but not in long run.
- The option c is not correct as when central banks take orders from the ruling party on how to conduct monetary policy then it is not an active monetary policy.
- The option e is not correct as when central bank use only fiscal policy to try to influence the economy can or can't be active monetary policy.
- The option d is correct as the active monetary policy is used to counter the changing economic conditions.
