8. Median income improves as the degree of educational attainment increases. Studies have consistently shown that individuals with higher levels of education tend to earn more money than those with lower levels of education. This is because education can improve job skills, increase productivity, and lead to better job opportunities.
Borrowing rate and interest rate may be influenced by educational attainment to some extent, but there are other factors that can also affect them, such as credit history, economic conditions, and market forces.
Savings ability may also be influenced by educational attainment, as individuals with higher levels of education may have better financial literacy and planning skills. However, the relationship may not be as strong as the relationship between education and income.
Therefore, the correct answer is Median income.
9. A checking account is not a savings instrument. A savings instrument is a financial product or account that is designed to help individuals save money and earn interest. Checking accounts, on the other hand, are designed for everyday transactions, such as paying bills, writing checks, and withdrawing cash.
CDs (certificate of deposit), treasury bonds, and savings accounts are all examples of savings instruments. CDs and treasury bonds are long-term investments that typically offer higher interest rates than savings accounts, but also have restrictions on when the funds can be withdrawn. Savings accounts, on the other hand, are more flexible and allow for easy access to the funds.
Therefore, the correct answer is Checking account.