The town could auction off a limited number of sheep-grazing permits to solve the problem.
What is a Tragedy of the Commons?This refers to a situation where people with free access to a public resource acts in their own interest and deplete such resource.
In order to prevent these commons tragedy, there will be need for the town officials to auction off a limited number of sheep-grazing permits to solve the problem.
Therefore, the Option C is correct.
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All of the following are benefits of new product development to a firm except:
a. reducing the costs of production
b. satisfying the changing needs of current and new customers
c. avoiding market saturation from products that have been on the market for a long time
d. creating diversification and reducing risk
e. keeping up in a market with short product life cycles where sales come mostly from new products
Answer: Reducing the cost of production.
Explanation:
Creating a new product by a company have several benefits such as helping the company to diversify, satisfying the changing needs of customers, shifting away from an already over produced item in the market.
Creating a new product does not ensure a reduction in cost of production. This is so because some products cost more to produce than others.
All of the listed options are benefits of new product development to a firm. Thus, (a, b, c, d, and e) are correct options.
Explanation:All of the listed options are benefits of new product development to a firm. Let's go through each option:
Reducing the costs of production: Developing new products can lead to more efficient production processes and cost savings.Satisfying the changing needs of current and new customers: By introducing new products, firms can meet the evolving demands of their existing customer base and attract new customers.Avoiding market saturation from products that have been on the market for a long time: Continuously developing new products can help firms stay competitive and prevent their offerings from becoming outdated.Creating diversification and reducing risk: Introducing new products allows firms to diversify their product portfolio, reducing the reliance on a single product or market.Keeping up in a market with short product life cycles where sales come mostly from new products: Developing new products is crucial in industries with rapid product turnover, where sales heavily depend on fresh offerings.In summary, all the options mentioned (a, b, c, d, and e) are indeed benefits of new product development to a firm.
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Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre’s Soup Spoons Bistro with Dierdre’s payment due on August 1. On August 1, her bank is closed, and for this reason, she claims that she cannot pay on time. In this situation:
a. Dierdre is in breach of contract.
b. Dierdre’s bank is liable to Contractors Service.
c. the contract is suspended.
d. the contract is discharged.
Answer:
a. Dierdre is in breach of contract.
Explanation:
Breach refers to not filling the duty as mentioned in the contract and then legally not following the contract.
When a contract is made, then there is bound to complete the act contracted, by both the parties,
This is because the contract binds both the parties.
Here, in the given instance Contractors Service Inc. is bound to build the restaurant for Dierdre's Soup Spoon Bistro.
In return the contract binds Dierdre's Soup spoon Bistro to make payment on 1 August.
Thus, in case if the bank is closed on 1 August, the payment shall have been made on 31 July.
Or in case there is some clause inserted in the contract allowing payment some other day in case of banks not working on the contract date.
Thus, this is breach of contract.
Since it did not completed its duties.
Trilane Systems is a small business. Its owner, Myra, is also its only employee. She handles the business's operations herself and is responsible for all of the business's income and losses. In the context of the legal forms of business, Trilane Systems is aA. Subchapter S Corporation.B. limited liability partnership.C. general partnership.D. sole proprietorship.
Answer: Option D
Explanation: In simple words, sole proprietorship refers to the business forms under which a single individuals operates the business and is personally liable for the debts of the firm as it will not be considered as a separate legal entity.
These businessmen usually operate in a small level with very little capital. Such structure is considered to be the easiest among all other structures.
In the given case, Myra is the owner as well as only employee of the organisation, hence we can conclude that she is operating a sole proprietorship.
Trilane Systems, run only by its owner Myra, is a sole proprietorship, where she is liable for all business activities and finances.
In the context of the legal forms of business, Trilane Systems, managed solely by Myra, where she is responsible for all operations, income, and losses, is best classified as a sole proprietorship. This form of business organization is characterized by a single owner who is personally liable for the business's debts and entitlements to all profits. Unlike a partnership or a corporation, a sole proprietorship does not have a separate legal entity distinct from its owner, and any business or personal assets may be at risk to cover debts.
Both tariffs and quotas tend to – social welfare. That is, they increase – for domestic consumers and decrease – of the restricted good. In some cases, such as the U.S. shoe market, tariffs on cheap goods hurt – consumers the most, making the tariff an example of a regressive tax.
Answer:
The correct answer is: reduce; price; supply; poor.
Explanation:
A tariff is a tax imposed on the import of goods and services from another country. A quota is a quantitative restriction on the imports.
Both tariff and quotas decreases the supply of imported products. This causes their price to increase. This increase in price reduces the consumer surplus for the domestic consumers.
In some cases where tariff is imposed on cheap goods that are consumed mostly by the poor consumers hurt them the most. Tariff in such situations become an example of regressive tax.
"Competitive advantage of nations" is a phrase coined by Joseph Stiglitz, identifying a nation as having a cluster of similar producers which gives the nation a special advantage over other countries.
True / False.
Answer:
False
Explanation:
The authors who first mentioned this concept were the classics, Adam Smith and David Ricardo especially, and it was David Ricardo the first economist in developing a whole theory about international trading and competitive and comparative advantages among nations, recently Michael Porter has developed a similar theory called the Porter's diamond in which he determines the factors that make countries more competitive and through which they achieve business success, he wrote a book called "the competitive advantage of nations".
Jenna’s supervisor was lamenting the fact that their company could not simultaneously meet the needs of their existing customer base (primarily consumers over the age of forty) and make inroads to the growing youth market. Jenna, on the other hand, came up with a plan for doing both, an example of
Answer:
the S-T-P approach (market segmentation)
Explanation:
Segmenting, targeting, positioning is a well-known marketing model applicable when addressing a diverse customer base. It is synonymous with market segmentation.
In order for Jenna's plan to be effective, it has to tackle each target group specifically, according to their own characteristics, preferences and habits. That way, the company can tailor their marketing efforts towards each target group respectively.
Trung has been an employee with PureEnergy Inc. for 15 years. He started with an entry-level job, and today he is a manager of an entire division. Over the years, Trung has acquired a reputation for doing the right things in the company. Hence, as an efficient leader, he is capable of effectively communicating and motivating his subordinates to work toward the company's vision and mission. According to the Level-5 leadership pyramid, which is the highest level of leadership Trung has reached so far?
A. Level 5
B. Level 4
C. Level 3
D. Level 2
Answer:
B) Level 4
Explanation:
Level 4 Leadership:
At this level the organization's leaders must be able to transition from producers to developers. Producers are able to make things happen while developers are able to develop the potential of their subordinates. Leaders must channel their efforts towards fulfilling the organization's objectives. Usually successful leaders are able to reach this level, but very few go beyond it.
What is fiat money?
A. money issued by financial intermediaries, such as banks, but not the central bank
B. money that has value independent of its use as money
C. an asset that has the ability to be easily converted into the medium of exchange
D. money that is authorized by a central bank and that does not have to be exchanged for gold or some other commodity money
a) - money issued by the financial intermediaries such as banks but not the central bank
Fiat money is currency that a government has declared to be legal tender. It is not backed by a physical commodity, but rather the faith and credit of the issuing government.
Fiat money is a type of currency that a government declares to be legal tender, despite it not being backed by a physical commodity, such as gold or silver. It has value primarily because the government maintains its validity for the payment of taxes and requires it to be accepted as a form of payment within the country. Essentially, the value of fiat money is derived from the faith and credit of the economy's government rather than any material worth.
Fiat money is useful as a medium of exchange because it is stable, generally accepted, and convenient. However, because it is not linked to a physical reserve, it is subject to inflation and changes in public confidence. This is evident in the statement printed on each U.S. bill: "This note is legal tender for all debts, public and private."
The exchange rate is A) the price of one currency relative to gold. B) the value of a currency relative to inflation. C) the change in the value of money over time. D) the price of one currency relative to another.
Answer:
D. the price of one currency relative to another
Explanation:
An exchange rate is the value of one nation's currency versus the currency of another nation or economic zone
Members of the European Monetary Union A. adopt a common currency called the euro. B. float their domestic currency exchange rate with both the euro and the rest of the world. C. can continue to use their own domestic currency but are required to hold a stipulated amount of a common currency. D. cannot hold reserves of the common currency.
Answer:
A. adopt a common currency called the euro
Explanation:
A monetary union:
1. adopts a common currency called the euro
2. hold reserves in the common currency
3. Monetary policy is jointly determined
On December 31, 2017, a company sells a plant asset that originally cost $375,000, receiving cash of $125,000. The accumulated depreciation account had a balance of $150,000 after the current year's depreciation of $37,500 had been recorded. The company should recognize a:
Answer:
A loss of $100,000.00
Explanation:
Plants details:
Original cost price: $375,000.00
Depreciation to date : $ 150,000.00
Selling price: $ 125,000.00
Calculating the book value:
=original price-depreciation
=$375,000.00-$150,000.00
=$225,000
Calculating profit and loss
= Selling price -book value
=$125,000- $ 225,000
=($100,000.00)
A loss of $100,000.00
Most companies today want their salespeople to _______, which means demonstrating and delivering superior customer value and capturing a return on that value that is fair for both the customer and the company.A. practice value sellingB. use a transaction-oriented sales approachC. close salesD. cut prices to make the saleE. capture short-term business
Answer:
Letter A is correct. Practice value selling.
Explanation:
A value selling is characterized by strategies and techniques that a skilled sales team uses to maximize sales and results.
To selling value rather than price, the seller must demonstrate to the customer the added benefits of the product, influencing their perception of value creation, with a focus on results and benefits the customer will have after purchasing their product.
Because BSB is cutting back on its loans, other banks will find they have too reserves, causing them to their loans.
BSB may find it difficult to cut back on its loans immediately because it cannot force people to pay off loans.
Which of the following ways represent an alternative for BSB to return to its original reserve ratio? Check all that apply.
A) Lend money
B) Attract additional deposits
C) Borrow money from another bank
D) Borrow money from the Fed
Answer:
The correct answers are
A) Attract additional deposits - this deposits can be used to increase the reserves
B) Borrow money from another bank - BSB will have to pay interest, but these money can be used to increase the reserves.
C) Borrow money from the FED - cheaper than borrowing from another bank, the same logic applies: it can use the money borrowed to increase its amount of reserves
Final answer:
BSB can return to its original reserve ratio by attracting additional deposits, or borrowing from other banks or the Federal Reserve. These methods directly increase reserves or temporarily cover shortages, ensuring stability and depositor confidence.
Explanation:
To address the situation wherein BSB is cutting back on its loans, there are several strategies it can employ to return to its original reserve ratio. Attracting additional deposits, borrowing money from another bank, and borrowing money from the Federal Reserve are practical alternatives. Attracting more deposits can increase the bank's reserves directly. Borrowing from another bank or the Fed can temporarily cover the reserve shortage. Option C
When BSB cuts back on its loans, it is likely attempting to increase its reserves to meet reserve requirements or to reduce risk in tough economic times. Selling loans in the secondary market might also be considered, allowing the bank to turn loans back into liquid assets that can strengthen its reserve position. Banks hold some deposits as reserves to ensure depositor confidence and meet withdrawal demands, thus maintaining a stable bank operation.
John owns a number of hot dog stands in New York City. He hires workers to sell hot dogs at his stands. Which of the following events will lead to a decrease in John's demand for hot dog vendors?a. Hollywood glamorization of a new movie about a hot dog vendor leads hundreds of high-school students in New York City to apply for a job at John's.b. The price of hot dogs falls.c. The local hot dog vendors form a union increasing hot dog vendor wages.d. The demand curve for hot dogs shifts to the right.
Answer:
The correct answer is option b.
Explanation:
John owns hot dog stands that sell hot dogs in New York City. He employs vendors to sell hot dogs at these stands.
A decrease in the price of hot dogs will reduce the revenue and profits earned by John. So John will hire fewer workers for his stands to reduce costs.
This will cause John's demand for hot dog vendors to decline.
Final answer:
The event that will decrease John's demand for hot dog vendors is the formation of a union that increases vendor wages, as higher wages mean higher costs for employers, thus reducing demand for labor.
Explanation:
The event that will lead to a decrease in John's demand for hot dog vendors is option C: The local hot dog vendors form a union increasing hot dog vendor wages. This is because when wages increase, the cost of hiring workers rises, which in turn reduces the quantity of labor demanded by employers.
If we refer to the principles of supply and demand, and the ways they interact with market conditions, you can see this reflected in several instances:
The opening of new nightclubs would impact demand for other entertainment, such as movie tickets, which is an example of the substitution effect wherein consumers have more entertainment choices.
Tax elimination for local entertainment businesses can increase the supply of movies (or any other good) due to lower operating costs.
The increase in the price of a substitute good (like hot dogs) would generally increase demand for the good in question (hamburgers). Conversely, if the price of a complements good (like hamburger buns) increases, it would make the total cost of the end product (burger with a bun) more expensive, potentially reducing demand for both goods.
However, in the question at hand about John's hot dog stands, the increase in worker wages is the direct factor leading to a decrease in demand for workers, independent of these other market factors.
In the 1950s, imports and exports of goods and services constituted roughly 4% to 5% of U.S. GDP. In recent years, exports have accounted for approximately 12% of GDP, while imports have more than tripled to over 15% of GDP. Which of the following helps to explain the increase in international trade and finance since the 1950s?Check all that apply.
a) An increasing number of import quotas
b) Better high-speed rail lines
c) Improvements in telecommunications
d) International trade agreements such as the General Agreement on Tariffs and Trade (GATT)
Answer:
a) An increasing number of import quotas
b) Better high-speed rail lines
c) Improvements in telecommunications
d) International trade agreements such as the General Agreement on Tariffs and Trade (GATT)
Explanation:
All of the above applies as in order to increase the international trade.
As with the increase in quotas there is a pressure to increase the imports. Further when there is easy chain of supply even in the international market that is railway facility is smooth and that the telecommunications is also easy.
Further, with increased trade agreements there is provision of reduced tariffs and taxes and accordingly the international exchange is not complicated and is rather smooth.
Final answer:
The rise in U.S. international trade can be attributed to technological advancements in telecommunications and the implementation of trade agreements like GATT, which reduced trade barriers and facilitated global economic integration.
Explanation:
The increase in international trade and finance since the 1950s can be explained by various factors. Improvements in telecommunications have drastically enhanced the speed and efficiency of communication globally, facilitating international transactions and operations. International trade agreements such as the General Agreement on Tariffs and Trade (GATT) have significantly lowered trade barriers, making it easier and more attractive for countries to engage in cross-border trade.
However, increased import quotas, which are limits set on the volume of imports, would generally reduce the level of trade, not increase it. Moreover, while better high-speed rail lines may have a positive impact on trade within certain regions, particularly in Europe and Asia, their effect on the global scale of U.S. exports and imports may be less significant when compared to advancements in maritime and air transport which have a greater global reach.
The public relations activity that involves enhancement of communication between investor-owned companies and their shareholders, the financial community (for example, banks, annuity groups, and investment firms), and the public is known as:_______
Answer:
financial public relations
Explanation:
Financial public relations -
It helps to build the financial reputation of the company .
The focus is to transmit the truthful and transparent culture of the organisation , it achieves the high degree of the credibility with the society .
hence , from the question ,
The correct term for the given statement is financial public relations .
Suppose a country that had balanced trade began to run a trade deficit. At the same time, consumption as a share of GDP increased but the investment share did not. Do you think there was an increase in capital deepening?
A. Yes, because the trade deficit can be used to purchase more capital.
B. Yes, because investment must have fueled the trade deficit.
C. No, because the country initially had balanced trade.
D. No, because consumption, not investment, has fueled the trade deficit
Answer:
D. No, because consumption, not investment, has fueled the trade deficit
Explanation:
Capital deepening requires an increase in the amount of capital in proportion to labor. To increase the amount of capital, investments are required.
In this example, investment as a percentage of GDP has not increased, while consumption has, but consumption does not directly increase capital.
If substantial batch-level or product-level costs exist, then overhead allocation based on a measure of volume such as direct labor-hours alone:
a. must be used for external financial reporting since activity-based costing cannot be used for external reporting purposes
b. will systematically over cost high-volume products and under cost low-volume products
c. is a key aspect of the activity-based costing model
d. will systematically over cost low-volume products and under cost high-volume products
Answer:
b. will systematically over cost high-volume products and under cost low-volume products
Explanation:
if we have a substantial batch level or product level cost exist thenthe overhead allocationshould be on the basis of direct labor hours because it will helpfully charge actual cost of overhead to that department as per actual labor hours used for that and it willa also help to overcost high volume products and undercost low volume products.
You have a goal of having $270,000 four years from today. The return on the investment is expected to be 8% and will be compounded semi-annually. The amount that needs to be invested today is closest to: (FV of $1,PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.)
A) $180,000.
B) $197,989.
C) $135,000.
D) $197,289.
Answer:D $197,289
Explanation:
Compounding a present value for a future sum is calculated thus:
FV= PV(1+r/n)^nt
FV= $270,000
Rate= 8%
Time= 4yrs
Compounded semi annually
$270,000= PV(1+0.08/2)^2*4
270,000=PV(1.04)^8
270,000=PV(1.368569050405)
270,000/1.3685690504052736
PV= 197,289
Cindy decides to gift her brother, Bob, with a small cottage that she owns on a piece of property adjacent to her main summer home. To transfer her interest in the house to Bob, Cindy signs a ________.
Answer:
Quitclaim deed
Explanation:
A quitclaim deed is a legitimate apparatus that is utilised to transfer interest for genuine property. The element moving its advantage is known as the grantor, and when the quitclaim deed is appropriately finished and executed, it moves any concern the grantor has in the property to a beneficiary, called the grantee. There are three sorts of land deeds: (1) the general guarantee deed, (2) the unique guarantee deed, and (3) the quitclaim deed
Chris Co. has three segments - Surfing, Mountain Biking, and Fly Fishing. The Surfing segment is currently producing 1000 units annually. The units sell for $500 each. The cost of each unit is $400. The Surfing segment spends $110,000 on product design each year. The segment also is allocating $100,000 of annual facility-level costs. Calculate the avoidable cost of Chris Co. were to eliminate the Surfing segment.
Answer:
The tennis department relevant costs (avoidable costs) are variable manufacturing costs ($400,000) and product design ($110,000).
Explanation:
First of all Chris Co. should eliminate its surfing department (since it is not profitable) only if it can use their production facilities to make something else that does generate profit or just sell that facility.
surfing department net profit = $500,000 - $610,000 = -$110,000 or $110,000 net loss
The department's major loss comes from the allocation of $100,000 in facility level costs, but these costs are not relevant or avoidable. Relevant costs are costs that can be avoided by making a business decision like closing a business department.
Flexible exchange rates and responses to changes in foreign macroeconomic policy. Suppose there is an expansionary fiscal policy in the foreign country that increases Y*, and at the same time the foreign central bank raises i* .
(a) In an IS-LM-IP diagram (IP for the interest parity relation), show the effects of the increase in foreign output Y* and the increase in the foreign interest rate i* , on domestic domestic output Y and the exchange rate (E), when the domestic central bank leaves the policy interest rate unchanged. Briefly explain in words.
(b) In an IS-LM-IP diagram, show the effects of the increase in Y* and the increase in i* on the domestic output (Y ) and the exchange rate (E), when the domestic central bank matches the increase in the foreign interest rate with an equal increase in the do-mestic interest rate. Briefly explain in words
(c) In an IS-LM-IP diagram, show the required domestic monetary policy following the increase in Y* and the increase in i* , if the goal of domestic monetary policy is to leave domestic output Y unchanged. Briefly explain in words. When might such a policy be necessary?
Answer:
The answer is letter C.
Explanation:
In an IS-LM-IP diagram, show the required domestic monetary policy following the increase in Y* and the increase in i* , if the goal of domestic monetary policy is to leave domestic output Y unchanged. Briefly explain in words. When might such a policy be necessary?
IS-LM-BP-Model was formulated by Mundell and Fleming. They were both economists and they created two kinds of analysis in the IS-LM-BP model according to the exchange rate regimes fixed or flexible. Point above/ below the BP curve is trade surplus/ deficit.
Foreign central bank rases i, interest rate differential reduces, exchange rate depreciates, trade balance improves, IS shifts rightwards, point above BP curve, so ,income rises because of expansionary fiscal policy also, excess demand for money , interest rate, rises, investiment decreases, income decreases.
Despite its name, Choco Central is located in a small shopping center far from customers. However, the company enjoys outstanding business because satisfied customers share their enjoyable experiences at Choco Central with their friends and relatives. Choco Central apparently benefits from positive
a) trade advertising.
b) word of mouth.
c) sales promotion.
d) public relations.
Answer:
Word of mouth.
Explanation:
Word of mouth publicity or marketing strategy is very reliable and essential to grow. It is free of cost publicity where consumer spread company´s brand name with the experience they had. Here, each customer could bring hundred of customers if had positive experience with the goods and services of the company. This publicity have a power of getting many loyal customers as experienced customer put their credibility on line. It also help the company to penetrate in the market and grow their market share. To encourage customer, companies also come up with different campaign or promotion plan for loyal customers.
Choco Central benefits from word of mouth, as satisfied customers recommend the store to others due to their positive experiences. This unpaid form of promotion is very powerful, leading to repeat business and the ability to charge higher prices based on a strong reputation.
Explanation:Choco Central enjoys outstanding business even though it is located far from customers. This success is due to satisfied customers sharing their enjoyable experiences with friends and relatives, which is an example of word of mouth. Word of mouth advertising is when pleased customers act as advocates for a business purely based on their positive experiences, so they recommend the business to others.
Firms cherish having repeat customers and good reputations because this leads to customers trusting in their products and services. An excellent reputation reduces worries about poor-quality products. As a result, well-reputed firms can charge higher prices compared to those with less established reputations, as customers have greater assurance in the quality they will receive.
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A monopoly is most likely to emerge in a market when
Answer: there is only one producer of a commodity
Explanation: In simple words, monopoly refers to a market structure in which there is only one participant in the market who is making available the commodity to the customers.
Monopoly can arise from a number of factors such as patents rights, new invention etc. Sometimes the govt. of a country finds it suitable to handle a particular industry for the national benefit such as defense.
Although monopolist is the single producer but still he or she cannot charge any price as the rule of price and demand is applies to monopoly also.
When people buy stocks/bonds we call this _____ and it _____ count in gdp.
Answer:
The correct answer: financial investment; not included.
Explanation:
The bonds and stocks securities or financial instruments. The investment in these instruments is called a financial investment.
The value of these financial investments derived from sell and purchase of stocks/bonds is not included in GDP as it does not involve any production.
The GDP of an economy measures the value of production of final goods and services in an economy.
When people buy stocks or bonds, it is considered financial investment and does not count in GDP.
Explanation:When people buy stocks or bonds, we call this financial investment and it does not count in GDP. GDP, or Gross Domestic Product, measures the total value of all final goods and services produced within a country's borders. Financial investments like stocks and bonds represent ownership in companies or debt obligations, and while they play a crucial role in the economy, they are not considered part of GDP because they do not directly contribute to the production of goods and services.
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A u.s. treasury bond is a______________.
a. store of value and common medium of exchange.
b. store of value, but not a common medium of exchange.
c. a common medium of exchange, but not a store of value.
d. neither a store of value nor a common medium of exchange.
Answer:
The correct answer is B
Explanation:
The US treasury bond is the bond which is a debt securities that have a maturity of more than 10 years but less than the 30 years. It pays the fixed interest rate each year.
It has a store of value which means an asset that maintains the value without depreciating it, but not the common medium of the exchange.
You are involved in an Information Systems project. The project's scope has widened, but there is no change in cost, quality, and user expectations. This will result in an increase in time taken to complete the project. True or false?
Answer:
True
Explanation:
Project scope deals with the specific requirements or tasks necessary to complete the project. Scope is important to manage on any project, because if you can’t control the scope of the project, you’re not likely to deliver it on time. Also should the scope get widened it will result in time taken to complete the project.
Every project is faced with the triple constraint, which are the time, scope and cost.
Kindly see the attached for further clarity
Every time Tim goes to bat in his baseball game, he rubs the charm on the necklace that his professional baseball player uncle gave him. This charm has never failed to help him get a good hit. The charm has become part of Tim's extended self .
A. True.
B. False
Answer:
The correct answer is True.
Explanation:
The notion of the Extended Self includes what I am and what is mine, this second aspect implies that we feel some control over the objects we possess or with which we relate; Within both categories we could then include body parts, pets, other people (such as our parents or friends), property, money, ideas, values, beliefs, objects, elements of our environment, among others.
An attempt to reduce inflation requires _____________ fiscal policy, which causes real GDP to _________ and the price level to __________.
Answer:
Explanation:
TO CONTRACT in order to pay more taxes and spend less money to avoid a price hike. DECREASE, if people spend less money the GDP is affected because of the purchases and the price level obviously prives FALL.
Brian wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacation is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Brian buys the computer and writes a check for $1,299.
Answer:
Role of Money is given below as Unit of Account , Store of value and Medium of Exchange
Explanation:
given data
computer priced = $1,299
vacation priced = $750
his checking account = $1,537
to find out
Role of Money
solution
here Brian is easily determine price difference that the computer priced is more than the price of the vacation = Unit of Account
as money being the standardize measure price of 2 unit
and
Brian checking account is $1,537 this is = Store of value
as money is stored in his account, that can be used later for any purpose
and
as Brian write check is $1,299 so it is = Medium of Exchange
as money is used to exchange with the computer