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- Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?1. Discuss whether savings is a virtue or a vice for : (a) an individual (b) the societyVol) 7.60 LTE KB/s 4G+ 11:46... pert.chegg.com + [1 Chegg Home Expert Q&A My solutions Student question ☐ Notifications 67 Time Left: 00:09:46 Transaction One: Open a Bank and Accept Deposits Name your Bank Draw a T - Account Representing Deposits of $2 million Transaction Two: Grant a Loan The Reserve Requirement is 20% Customer A wants to borrow $1 million. Customer B wants to borrow $400,000. Customer C wants to borrow $300,000. Can you fulfill all three loan requests? Draw a T - Account Representing a bank that is fully "loaned up" (reduce the loan amount to Customer C if necessary) Transaction Three: Follow the Money Creation Process Customer A deposits his loan with his home bank, Bank of Taylor Draw a T - Account Representing this transaction for Bank of Taylor assuming they already have $1.5 million in deposits and loans in the amount of $700,000 Transaction Four: Calculate the Money Creation Effect What is the money multiplier rate in this example? If banks in this economy are…
- Interest rate 2% 4 6 8 10 Transaction demand for money $220 220 220 220 220 Asset demand B) horizontal line. C) line sloping downward and to the right. D) line sloping upward and to the right. for money $300 280 260 240 220 Money supply $460 460 460 460 460 1. The transactions demand for money in the above market for money would graph as a: A) vertical line.The characteristic of money as a store of value implies: a. Money will remain valuable from one day to the next O b. None of the Above O C. Money allows us to quote prices and record debt O d. Money is acceptable as payment for goods and servicesCorry has an income of $80,000 that he is willing to spend over a year. If his bank account's interest rate is 3.05% and the cost associated for him to visit the bank is $5.00. What is Corry's average money holding? O a. $488.00 O b. $2,560.74 O c. $5,000.00O O d. $16.00 O Type here to search 24
- What is the difference between a debit card and a credit card? A purchase with a debit card you never have to pay for. A credit card comes directly from your checking account. O A debit card purchase comes directly from your checking account. A purchase with a credit card you never have to pay, ever. O A debit card has your purchases come directly from your checking account. A credit card collects the amount that you spend the entire month. If you do not pay the entire balance, you will have to pay interest. O A debit card collects the amount you spend over the month and sends you a bill. If you do not pay the whole bill, you have to pay interest. A credit card purchase comes directly from your checking account.What do economists mean by the "time value of money"? O A. The way that the value of a payment changes depending on when the payment is received. B. The fact that it takes time to make money. OC. The fact that money has value only if you have the time to enjoy it.E7% B A C 5% - M 100 150 200 300 Money ($ million) 25) Refer to Figure 11.1. Suppose the Quantity of money demanded is currently at Point A. increase money Demand could be caused by: A) a decrease in the interest rate. C) an increase in income. B) a decrease in income. D) an increase in the interest rate. Interest rate (%)
- 2. What is normal goods? What is ordinary goods? Please indicate whether normal money must be ordinary money.Rio Tinto pays a tee to a bank for its assistance during an issue of securities. Rio Tinto does NOT have a deposit account at that bank. The bank deposits at the bank receiving the fee and the bank deposits in the banking system OA decrease; decrease O B. do not change: decrease do not change; do not change OD. increase; decrease OE decrease: do not changeFREE-RESPONSE QUESTIONS 1. Use the following scenario to answer all parts of the following questions: Diego opens a new checking account in Bank A with $5,000. (a) If Diego uses the debit card that accompanies this account, what function of money does his transaction serve? (b) Diego decides to deposit as much as he can into this account after his initial deposit to purchase a car. What function is his money serving? Explain. (c) Diego sees an advertisement for the car he wants for $8,000. In this scenario, money is serving which purpose? Explain. (e) (d) Diego writes a check against his account for the car. Which measurement of money will he be using for this purchase? After the purchase of his car, Diego has $2,000 left over, $1,000 of which he decides to put into a certificate of deposit. What measurement of money is his $1,000 CD a part of?