You Have $3,000 That You May Need to Use to Replace

question 72

Multiple Choice

You have $3,000 that you may need to use to replace the furnace in your home.If you need the funds,it would be on no less than a week's notice.Into which type of account would it be best for you to deposit the $3,000?

• A) Checking account
• B) Savings account
• C) NOW account
• D) All of the above would be equally acceptable.

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Definitions:

Greater Inequality

Refers to an increase in the unequal distribution of resources, wealth, or opportunities within a society or between different societies.

Income Distribution

The way in which a nation’s total earnings are spread among its population, affecting economic inequality.

Total Income

The aggregate amount of money earned or received by an individual or entity from all sources before any deductions.

Equality-Efficiency Trade-Off

The compromise between ensuring an equitable distribution of resources and reaching the highest level of economic efficiency.