Every Economic Model Should Include Money as a Variable

question 10

Multiple Choice

Every economic model should include money as a variable.This statement is

• A) true, because every transaction in the economy uses money.
• B) true, because the federal reserve is very important.
• C) false, because some transactions in the economy are accomplished without money.
• D) false, because a model can get unnecessarily complex if it includes money.

---

Definitions:

Mobile Payroll App

A smartphone application designed to manage, process, and execute payroll functions remotely.

QBO Mobile

The mobile application version of QuickBooks Online, designed for managing finances and accessing QuickBooks features on-the-go.

FICA

The Federal Insurance Contributions Act, which is a U.S. law that requires a payroll deduction for Social Security and Medicare.

FUTA

Stands for the Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on businesses to fund state workforce agencies.