Podcast
Questions and Answers
Which type of money has no consumption or investment use and is basically useless pieces of paper?
Which type of money has no consumption or investment use and is basically useless pieces of paper?
- Representative money
- Fiat money (correct)
- e-money
- Commodity money
Which characteristic of money refers to its ability to retain the same shape, form, and substance over an extended period of time?
Which characteristic of money refers to its ability to retain the same shape, form, and substance over an extended period of time?
- Transportability
- Non-counterfeitability
- Durability (correct)
- Divisibility
What type of money is backed 100% by precious metals?
What type of money is backed 100% by precious metals?
- Representative money (correct)
- Commodity money
- e-money
- Fiat money
Which characteristic of money refers to its ability to be divided into small increments for exchange of goods with varying values?
Which characteristic of money refers to its ability to be divided into small increments for exchange of goods with varying values?
Which characteristic of money means that it cannot be easily duplicated?
Which characteristic of money means that it cannot be easily duplicated?
What type of money has intrinsic value due to its material composition such as gold, silver, or other precious metals?
What type of money has intrinsic value due to its material composition such as gold, silver, or other precious metals?
What type of money consists of the book credit that banks extend to their depositors?
What type of money consists of the book credit that banks extend to their depositors?
Which function of money measures the value of various goods and services produced in an economy?
Which function of money measures the value of various goods and services produced in an economy?
What is the characteristic of money that refers to its ability to facilitate transactions of goods and services?
What is the characteristic of money that refers to its ability to facilitate transactions of goods and services?
Which type of money is a good whose value serves as the value of money?
Which type of money is a good whose value serves as the value of money?
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