A decrease in a fixed exchange rate from $1.75 per pound to $1.60 per pound is called a(n) ________ of the pound

Which of the following is an example of money functioning as a medium of exchange?

A) Walmart accepting your $20 when you buy a Blu-ray. B) Apple pricing an iPhone at $299. C) Bank of America paying you 3 percent on your saving account. D) You saving your spare change in a jar before depositing them in your savings account.

Which of the following is NOT true of a fixed payment loan?

A) The borrower is required to make regular periodic payments to the lender. B) The payments made by the borrower include both interest and principal. C) The borrower is left with a substantial unpaid principal at the maturity of the loan. D) A home mortgage is an example of fixed payment loan.