Any commonly accepted good that acts as a medium of exchange, a measure of value, and a store of value is known as

A member of the Board of Governors of the Federal Reserve is appointed by

a. Congress for 12 years. b. the President, with the advice and consent of the Senate, for a 14-year term. c. the President, for life. d. members of the House of Representatives for a 10-year term.

Suppose that you have $100 today and expect to receive $100 one year from today. Your money market account pays an annual interest rate of 25%, and you may borrow money at that interest rate. If you save all your money, how much money will you have one year from today?

a. $100 b. $125 c. $200 d. $225