A) a unit of account
B) a store of value
C) medium of exchange
D) None of the above is correct.
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A) paper bills and coins.
B) demand deposits.
C) credit cards.
D) Both (a) and (b) are correct.
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A) M1 but not M2.
B) M2 but not M1.
C) M1 and M2.
D) neither M1 nor M2.
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A) You keep some money hidden in your shoe.
B) You keep track of the value of your assets in terms of currency.
C) You pay for your oil change using currency.
D) None of the above is correct.
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A) M1 but not M2.
B) M2 but not M1.
C) M1 and M2.
D) neither M1 nor M2.
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A) Rare baseball cards
B) Euros
C) Stocks
D) The gold standard
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A) commodity money
B) fiat money
C) both commodity money and fiat money
D) neither commodity money nor fiat money
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A) money market deposit accounts
B) large time deposit
C) demand deposits
D) money market mutual funds
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A) the most liquid asset and a perfect store of value.
B) the most liquid asset but an imperfect store of value.
C) not the most liquid asset but a perfect store of value.
D) neither the most liquid asset and nor a perfect store of value.
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A) balances that lie behind debit cards.
B) demand deposits.
C) other checkable deposits.
D) All of the above are correct.
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A) traded for another asset determines whether or not that asset is a unit of account.
B) transported from one place to another determines whether or not that asset could serve as fiat money.
C) converted into a store of value determines the liquidity of that asset.
D) converted into the economy's medium of exchange determines the liquidity of that asset.
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A) medium of exchange
B) unit of account
C) store of value
D) liquidity
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A) a medium of exchange.
B) a unit of account.
C) a store of value.
D) None of the above is correct.
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A) M1 but not M2.
B) M2 but not M1.
C) M1 and M2.
D) neither M1 nor M2.
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A) the yardstick is a medium of exchange but it cannot serve as a unit of account.
B) the yardstick is a unit of account but it cannot serve as a store of value.
C) the yardstick is a medium of exchange but it cannot serve as a store of value,and the yollar is a unit of account.
D) the yollar is a unit of account,but it is not a medium of exchange and it is not a liquid asset.
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A) it is relatively rare.
B) it is durable.
C) it has a relatively low melting point.
D) All of the above are correct.
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A) cash and stocks
B) cash but not stocks
C) stocks but not cash
D) neither cash nor stocks
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A) cash
B) cash and stocks and bonds
C) cash and stocks and bonds and real estate
D) cash and stocks and bonds and real estate and all other assets
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A) U.S.Treasury bills
B) small time deposits
C) demand deposits
D) money market mutual funds
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A) U.S.citizens are holding a lot of foreign currency.
B) Currency may be a preferable store of wealth for criminals.
C) People use credit and debit cards more frequently.
D) All of the above help explain the abundance of currency.
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Correct Answer
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