For each of the following scenarios, determine whether money is being used as a medium of account, store of value, or unit of account. a. Sam gives the grocery store clerk a $5 bill to pay for his purchase. multiple choice 1 Store of value Medium of exchange Unit of account b. Bill looks at the $20 price tag on a clock to see how much money he would need to purchase it. multiple choice 2 Medium of exchange Store of value Unit of account c. Maria writes a check to pay her electric bill. multiple choice 3 Medium of exchange Unit of account Store of value d. Susan transfers some of her wealth from her checking account into a certificate of deposit that earns interest. multiple choice 4 Medium of exchange Unit of account Store of value

Put each of them in order. you are a young entrepreneur with a startup business. you now seek credit from the bank to expand it. what are the steps you will have to take? 1. you support your loan application with relevant documents. 2. you fill out the loan application form at the bank 3. you get an approval for the loan and the money is disbursed to your business account 4. you use the credit to further your business plan. 5. you have an interview with the loan officer and you explain your business plan.

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Which of the following is an example of an unsought good? a. cameron purchases a new bike. b. jordan buys paper towels. c. taylor buys cupcakes from her favorite bakery. d. riley buys new windshield wipers for her car.