If the Money Held by the Public Is $3 Billion

question 56

Multiple Choice

If the money held by the public is $3 billion and inflation is 6%, the inflation tax is:

• A) $3.18 billion.
• B) $50 billion.
• C) $180 million.
• D) $1.8 billion.

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Definitions:

Cash Sales

Transactions where payment is made in full using cash or electronic funds at the time of purchase.

Retailer

A business or person that sells goods directly to consumers for their own use.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for, recognized as an asset.

Cash Sales

Transactions where customers pay for goods or services at the time of purchase using cash.