Answer: 4) No change in the money supply because the $200 in currency has been converted to a $200 increase in checkable deposits
Explanation:
The money supply refers to the total amount of money currently in circulation. In this instance it remains the same because no new money was introduced into the economy.
All that has happened is that Ms. Rogers took her $200 which was already in circulation and part of money supply and deposited it in her checking account. The money is therefore still in circulation, just not in immediate cash.
Money supply therefore remains the same.
Answer:
is a time deposit of money in an international bank located in a country different from the country that issued the currency.
Explanation:
In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.
The three (3) main functions of money all over the world are;
I. Medium of exchange.
II. Unit of account.
III. Store of value.
The European System of Central Banks (ESCB) which was established under the Treaty on European Union (TEU).
It comprises of the European Central Bank (ECB) and the national central banks of all the 27 European Union (EU) member states, irrespective of adopting the Euro (£) or not. This has helped the European Union (EU) member states to achieve tight corporations and memorandum of understanding (MOUs) such as TARGET2 (single payment system).
Eurocurrency is a time deposit of money in an international bank located in a country different from the country that issued the currency.
Answer:
Social Security = $186.00
Medicare = $43.50
Explanation:
Since the given rate for Social security is 6.2%, the first week deduction is 6.2% of gross weekly salary, which is $3,000. Hence, the first week deduction for Social Security is given by
Social Security Deduction = 6.2% of $3,000
= 0.062 × 3,000 (Change 6.2% to decimal)
= $186.00
Similarly, since 1.43% is the given rate for medicare, the first week deduction is 1.43% of the gross weekly salary, which is $3,000. Thus, the first week deduction for medicare is given by
Medicare Deduction = 1.43% of $3,000
= 0.0143 × 3,000
= $43.50
Answer:
The correct answer would be option C, $26000
Explanation:
There are a lot of costs associated with the production, Advertisement, Sales, etc of a product. These costs acts as the overheads for the company. If there is a cost which cannot be capitalized into Inventory, Prepaid expenses, or fixed assets, it is called as the Period Cost. Good examples of Period costs are Advertisement expenses, Selling Expenses, etc.
In the given question, Office Rent is the such type of a cost which cannot be capitalized into above mentioned accounts. Office Rent comes under the period cost category. So the correct answer is $26000.
Answer:
Total finance charge=$23.75
Explanation:
<em>The amount charged for the use of the fund by a bank is called interest rate. Here it is quoted as 21% per annum but we will need to determine the approximate monthly rate by dividing by 12</em>.
The total finance charge will be equal = Interest rate + advance fee
Monthly interest rate = 21/12 =1.75%
Interest payment = 1.75%× $500=$8.75
Advance fee = 3%× $500= $15
Total finance charge = $8.75 + $15= $23.75
Total finance charge=$23.75
