You Put Money in the Bank

question 92

Multiple Choice

You put money in the bank.The increase in the dollar value of your savings

• A)and the change in the number of goods you can buy with your savings are both nominal variables.
• B)and the change in the number of goods you can buy with your savings are both real variables.
• C)is a nominal variable,but the change in the number of goods you can buy with your savings is a real variable.
• D)is a real variable,but the change in the number of goods you buy with your savings is a nominal variable.

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Definitions:

Personal Liability

The legal responsibility of an individual to satisfy debts or obligations from their own assets.

Debts

Money owed by one party, the debtor, to another, the creditor; an obligation to pay or render something of value.

Partnership

A business arrangement in which two or more individuals share ownership and the operational responsibilities of the business.

Uniform Limited Liability Company Act

A comprehensive statute that provides a uniform regulatory framework for the formation, operation, and dissolution of limited liability companies (LLCs) in the states that adopt it.