Author Question: Refer to Scenario 12.1 At the assumed annual inflation rate of 5 percent, approximately how much ... (Read 45 times)

geoffrey · **on:** Jun 30, 2018

Refer to Scenario 12.1 At the assumed annual inflation rate of 5 percent, approximately how much will the 6.00 pack of cigarettes cost in 30 years, when Jennifer reaches the retirement age of 60?

A) 16 B) 21 C) 33 D) 47

Question 2

A barter system of payment is

A) different from a money system of payment because money does not require a double coincidence of wants.
B) similar to a money system of payment because both require a double coincidence of wants.
C) different from a money system of payment because the barter system is a better unit of account.
D) similar to a money system of payment because both use one asset as a unit of account.
E) similar to a money system of payment because both are used as stores of value and units of account.