What makes it useful? Explain its primary and derivative functions of Money? (100 wor

discuss the Role of political office bearers responsible for finance. Use the following concepts on your discussion. • The Minister of Finance • Monetary control • Fiscal control • The annual budget

What is the solution for this questions

Read the above passage. How does this relate to business, and what are some solutions to this problem? What is the purpose of this passage and how does it affect the business management right now?  Americans’ collective credit card balances totaled $986 billion at the end of last year, up $61 billion from the previous quarter, according to the Federal Reserve Bank of New York’s quarterly household debt report. Overall, U.S. household debt—including mortgage, auto, student loan, and credit card debt—grew to $16.90 trillion at the end of 2022.  That $61 billion increase in credit card debt, however, was the largest quarterly jump recorded in the history of the N.Y. Fed’s data, which dates back to 1999. Additionally, the total accumulated credit card debt surpassed the pre-pandemic record of $927 billion.  “Credit card balances grew robustly in the fourth quarter, while mortgage and auto loan balances grew at a more moderate pace, reflecting activity consistent with pre-pandemic levels,”…