1. An article or substance used as a medium of exchange, means of payment or measure of wealth.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: The Basic Tools Of Finance
Section: Chapter Questions
Problem 1CQQ
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1
1. An article or substance used as a
medium of exchange, means of
payment or measure of wealth.
(1 Point)
profit
discount
interest
money
2. An amount of money paid for the use of
borrowed capital or the income
produced by money which has been
loaned.
(1 Point)
interest
capital
money
O profit
Transcribed Image Text:1. An article or substance used as a medium of exchange, means of payment or measure of wealth. (1 Point) profit discount interest money 2. An amount of money paid for the use of borrowed capital or the income produced by money which has been loaned. (1 Point) interest capital money O profit
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