When We Keep Part of Our Wealth in a Bank

question 107

Multiple Choice

When we keep part of our wealth in a bank checking account,we are using money as a ________ because ________.

• A)store of value;we are holding the money to exchange for goods at a later time
• B)medium of exchange;we are holding the money to gain interest earned
• C)barter token;we are holding the money to exchange for goods at a later time
• D)unit of account;we are holding the money to exchange for goods at a later time
• E)unit of currency;we have agreed upon the value of the money with bank

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Definitions:

Consumer Discount

A reduction in the regular price of goods or services offered to customers.

Regular Price

The standard or usual price of a product or service before any discounts or promotions are applied.

Heinz Pickle Relish

A condiment produced by Heinz, made from diced pickles and used to enhance the flavor of foods like hot dogs and burgers.

Noncumulative Quantity Discount

A price reduction offered on a single purchase order rather than the total number of units bought over time.