As a Medium of Exchange,money

question 17

Multiple Choice

As a medium of exchange,money

• A) eliminates the cumbersome barter system.
• B) creates a complicated service structure.
• C) makes it harder to trade.
• D) is hard to divide.
• E) is backed by gold.

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Definitions:

Mortgage Loan

A specific type of loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty.

Compounded Monthly

The process of calculating interest on both the initial principal and the accumulated interest of previous periods on a monthly basis.

Retirement Plan

A financial arrangement designed to replace employment income upon retirement, which may involve contributions by employers, employees, or both.

Contributions

Amounts given or payments made towards a common goal, project, or for the benefit of a group.