A cashier gives one person a $5 bill and 15 $1 bills in exchange for a $20 bill. He gives a second person a $10 bill, a $5 bill, and five $1 bills in exchange for a $20 bill. Which characteristic of money does this illustrate?
(1 point)
Responses
durability
durability
portability
portability
divisibility
divisibility
*uniformity
uniformity
why that?
The characteristic of uniformity means that each unit of the currency is the same as every other unit. In this scenario, both the $5 bill and the $1 bills hold the same value, regardless of who receives them. This illustrates uniformity because the cashier is giving the same denominations of bills to both individuals in exchange for the same value of currency.
did you take other answer choices into consideration?
Apologies for the oversight. Let's consider the other answer choices as well:
- Durability: While money is generally designed to be durable, this scenario does not specifically illustrate durability.
- Portability: Money is designed to be easily portable, but this scenario does not directly illustrate portability.
- Divisibility: Divisibility means that money can be easily divided into smaller units. In this scenario, the cashier is giving different denominations of bills to make change, which demonstrates divisibility.
Out of the given answer choices, the scenario best illustrates the characteristic of divisibility.
How does inflation primarily differ from deflation?
(1 point)
Responses
Inflation tracks changing prices but deflation does not.
Inflation tracks changing prices but deflation does not.
Inflation relates to rising rather than falling prices.
Inflation relates to rising rather than falling prices.
Inflation happens only when the money supply is too small.
Inflation happens only when the money supply is too small.
Inflation occurs much less often than deflation does.
Inflation relates to rising rather than falling prices and occurs much less often than deflation does.
What is an interest rate?
(1 point)
Responses
a loan add-on
a loan add-on
a required bank fee
a required bank fee
a service provided by a retail store
a service provided by a retail store
a special type of price
a special type of price