Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 5AA
To determine
To choose: The best suited option to fill the blank.
Expert Solution & Answer
Explanation of Solution
An interest-bearing financial asset owned by a bank or another financial institution is a savings account. Although these accounts usually pay a moderate interest rate, they make them a great choice for parking cash that a person wants to be ready for short-term needs, their efficiency and reliability.
Savings plans have some limits on how often an individual can withdraw cash, but they generally have excellent flexibility that is ideal for building an emergency fund, saving for a short-term objective such as purchasing a new car or going on vacation, or just sweeping extra cash that a person doesn't want in his confirmation account so that he can get more interest otherwise.
To prevent paying fees, a minimum balance must be held in certain forms of savings accounts.
Chapter 6 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 6.1 - Prob. 1RCh. 6.1 - Prob. 2RCh. 6.1 - Prob. 3RCh. 6.1 - Prob. 4RCh. 6.1 - Prob. 5RCh. 6.1 - Prob. 6RCh. 6.2 - Prob. 1RCh. 6.2 - Prob. 2RCh. 6.2 - Prob. 3RCh. 6.2 - Prob. 4R
Ch. 6.3 - Prob. 1RCh. 6.3 - Prob. 2RCh. 6.3 - Prob. 3RCh. 6.3 - Prob. 4RCh. 6.3 - Prob. 5RCh. 6 - Prob. 1AACh. 6 - Prob. 2AACh. 6 - Prob. 3AACh. 6 - Prob. 4AACh. 6 - Prob. 5AACh. 6 - Prob. 6AACh. 6 - Prob. 7AACh. 6 - Prob. 8AACh. 6 - Prob. 9AACh. 6 - Prob. 10AACh. 6 - Prob. 11AACh. 6 - Prob. 12AACh. 6 - Prob. 13AACh. 6 - Prob. 14AACh. 6 - Prob. 15AACh. 6 - Prob. 16AACh. 6 - Prob. 17AACh. 6 - Prob. 18AACh. 6 - Prob. 19AACh. 6 - Prob. 20AACh. 6 - Prob. 21AACh. 6 - Prob. 22AACh. 6 - Prob. 23AACh. 6 - Prob. 24AACh. 6 - Prob. 25AACh. 6 - Prob. 26AA
Additional Business Textbook Solutions
Find more solutions based on key concepts
The call option on the firm’s assets which leads to agency costs. Introduction: An option is a derivative that ...
Corporate Finance (4th Edition) (Pearson Series in Finance) - Standalone book
11-13. Discuss how your team is going to identify the existing competitors in your chosen market. Based on the ...
Business Essentials (12th Edition) (What's New in Intro to Business)
Small Business Analysis Purpose: To help you understand the importance of cash flows in the operation of a smal...
Financial Accounting, Student Value Edition (5th Edition)
E2-13 Identifying increases and decreases in accounts and normal balances
Learning Objective 2
Insert the mis...
Horngren's Accounting (12th Edition)
Risk Premiums and Discount Rates. Top hedge fund manager Sally Buffit believes that a stock with the same marke...
FUNDAMENTALS OF CORPORATE FINANCE
2. Identify and stale two generally accepted accounting principles that relate to adjusting the accounts.
Financial Accounting: Tools for Business Decision Making, 8th Edition
Knowledge Booster
Similar questions
- Not use ai pleasearrow_forward1. Riaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3 apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added 5 units to Sadid's utility, while the last bread added 7 units. Is Riaz making the utility-maximizing choice? Why or why not? Do you suggest any adjustment in Riaz's consumption bundle? Why or why not? Give reasons in support of your answer. State the condition for a consumer's utility maximizing choice and illustrate graphically. 2. Consider the following table of long-run total costs for three different firms: Quantity Total Cost ($) Firm A Firm B Firm C 1 60 11 21 2 70 24 34 3 80 39 49 4 90 56 66 5 100 75 85 6 110 96 106 7 120 119 129 Does each of these firms experience economies of scale or diseconomies of scale? Explain your answer with necessary calculations.arrow_forwardRiaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3 apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added 5 units to Sadid's utility, while the last bread added 7 units. Is Riaz making the utility-maximizing choice? Why or why not? Do you suggest any adjustment in Riaz's consumption bundle? Why or why not? Give reasons in support of your answer.State the condition for a consumer's utility maximizing choice and illustrate graphically.arrow_forward
- 1. Riaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3 apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added 5 units to Sadid's utility, while the last bread added 7 units. Is Riaz making the utility-maximizing choice? Why or why not? Do you suggest any adjustment in Riaz's consumption bundle? Why or why not? Give reasons in support of your answer. State the condition for a consumer's utility maximizing choice and illustrate graphically.arrow_forward1. Riaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3 apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added 5 units to Sadid's utility, while the last bread added 7 units. Is Riaz making the utility-maximizing choice? Why or why not? Do you suggest any adjustment in Riaz's consumption bundle? Why or why not? Give reasons in support of your answer. State the condition for a consumer's utility maximizing choice and illustrate graphically.arrow_forward2. Consider the following table of long-run total costs for three different firms: Quantity Total Cost ($) Firm A Firm B Firm C 1 60 11 21 2 70 24 34 3 80 39 49 4 90 56 66 5 100 75 85 6 110 96 106 7 120 119 129 Does each of these firms experience economies of scale or diseconomies of scale? Explain your answer with necessary calculations.arrow_forward
- 1. Riaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3 apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added 5 units to Sadid's utility, while the last bread added 7 units. Is Riaz making the utility-maximizing choice? Why or why not? Do you suggest any adjustment in Riaz's consumption bundle? Why or why not? Give reasons in support of your answer. State the condition for a consumer's utility maximizing choice and illustrate graphically.arrow_forwardRiaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added5 units to Sadid’s utility, while the last bread added 7 units.arrow_forward1. Riaz has a limited income and consumes only Apple and Bread. His current consumption choice is 3 apples and 5 bread. The price of apple is $3 each, and the price of bread is $2.5 each. The last apple added 5 units to Sadid's utility, while the last bread added 7 units. Is Riaz making the utility-maximizing choice? Why or why not? Do you suggest any adjustment in Riaz's consumption bundle? Why or why not? Give reasons in support of your answer. State the condition for a consumer's utility maximizing choice and illustrate graphically.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSON
Engineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education