When We Keep Part of Our Wealth in a Bank

question 363

Multiple Choice

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

• A)store of value.
• B)medium of exchange.
• C)barter token.
• D)unit of account.
• E)unit of currency.

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Definitions:

Marginal Revenue Product

The increased earnings from adding one more unit of a resource used in production, such as capital or labor.

Marginal Revenue Product

The extra income created from the use of one additional unit of a production resource or input.

Acres

A unit of land area used in the imperial and US customary systems, equivalent to 4,840 square yards or approximately 4,047 square meters.

Marginal Revenue Product

The extra income produced by using an additional unit of a production input, like labor or capital.