A Price Tag of $4 for a Portable Power Bank

question 160

Multiple Choice

A price tag of $4 for a portable power bank is an example of money as

• A) a medium of exchange.
• B) a unit of accounting.
• C) a store of value.
• D) a time deposit.

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Definitions:

Income

Money received, especially on a regular basis, from work, property, or investments.

Utility Function

A mathematical representation of a consumer's preference ordering over a set of goods or outcomes.

Consumption

The process of using goods and services to satisfy wants and needs.

Interest Rate

An interest rate is the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan remaining.