9:37 Q. Safar a O O tion get File&material; id 2147187279 cmserver?ctX malkiat.s

Question

9:37 Q. Safar a O O tion get File&material; id 2147187279 cmserver?ctX malkiat.sandhul-0082&ctx; malkiat.sandhul-0082 &cms; action ge e&material; id courses aplia.com 2147187279 Ted bans N peak Yah App Chegg Study I Guided S Multiple Choice Identify the letter of the choice that best completes the statement or answers the question 1. If you use a check to purchase a textbook, the check is a. the unit of value b. the means of payment c. the means of payment and the unit of value d. outside the monetary system e. worth less than an equivalent amount of currency 2. Everything else constant, who is least likely to lose from unexpected inflation? a. a retired person whose pension payments are fixed in dollars b. a person with a large amount of money deposited in a savings account c. a bank scheduled to receive fixed nominal mortgage payments d. a homeowner scheduled to make fixed nominal mortgage payments e. a consumer who spends extra time shopping for the lowest prices 3. Suppose that a labor union leader is trying to bargain for an increase in union workers' real wages of 5 percent. If he expected the price level to rise at a rate of 3 percent this year, how much would nominal wages need to increase for him to accomplish his objective? a. 2 percent b. 3 percent c. 5 percent d. 8 percent e. 5 percent.

Explanation / Answer

1. Check is used as a means of payment. Check is an instrument used to pay the seller or a party which when presented to the concerned bank he receives the payment in currency.

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