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If Jackson is paid an interest rate of 10 percent on his savings, but the inflation rate has risen to 20 percent, the purchasing power of his savings is _____. A)increased by 20 percent B)increased
by 10 percent C)decreased by 10 percent D)decreased by 20 percent
If Jackson is paid an interest rate of 10 percent on his savings, but the inflation rate has risen to 20 percent, the purchasing power of his savings is C)decreased by 10 percent .
Expert answered|chinggay_0118|Points 242|
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Asked 9/25/2012 3:18:05 PM
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“Objects that have value because the holder can exchange them for something else of value” defines _____. A)fiat money B)portability C)representative money D)commodity money
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Updated 9/19/2012 11:50:03 PM
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simplekaren89, please don't post duplicate answers.
Added 9/19/2012 3:39:21 AM
commodity money
Added 9/19/2012 4:02:46 AM
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representative money
Added 9/19/2012 11:12:10 PM
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portability
Added 9/19/2012 11:12:50 PM
This answer has been flagged as incorrect.
Flagged by jeifunk
c. representative money- a representative money means Something that is not in the physical form of currency, but represents the intent to pay money
Added 9/19/2012 11:50:03 PM
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