Which of the Following Is an Example of Money Functioning

question 174

Multiple Choice

Which of the following is an example of money functioning as a medium of exchange?

• A) Walmart accepting your $20 when you buy a Blu-ray.
• B) Apple pricing an iPhone at $799.
• C) Bank of America paying you 1 percent on your saving account.
• D) You saving your spare change in a jar before depositing them in your savings account.

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Definitions:

Loan

An amount of money borrowed that is expected to be paid back with interest.

Days

Units of time representing 24 hours, used universally to measure time periods shorter than a week.

Investment

The action or process of allocating resources, usually money, with the expectation of generating an income or profit.

Interest

The cost of borrowing money, typically expressed as an annual percentage of the loan amount.