Podcast
Questions and Answers
Which of the following is NOT a characteristic of money?
Which of the following is NOT a characteristic of money?
- Indivisibility (correct)
- Acceptability
- Durability
- Transportability
What is commodity money?
What is commodity money?
- Money that is backed 100% by precious metals
- Money made from certain stones and cigarettes
- Money that is widely used and accepted in transactions
- Money that represents a specific amount of a commodity such as gold or silver (correct)
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?
- Commodity money
- Fiat money (correct)
- Plastic money
- Representative money
What does divisibility mean in the context of money?
What does divisibility mean in the context of money?
Which characteristic of money refers to its ability to be easily moved from one location to another when needed?
Which characteristic of money refers to its ability to be easily moved from one location to another when needed?
What does fiat money refer to?
What does fiat money refer to?
What is the meaning of 'noncounterfeit ability' in the context of money?
What is the meaning of 'noncounterfeit ability' in the context of money?
What is the primary responsibility of a country's Government in relation to the supply of money?
What is the primary responsibility of a country's Government in relation to the supply of money?
Which type of money consists of the book credit that banks extend to their depositors?
Which type of money consists of the book credit that banks extend to their depositors?
What does 'plastic money' refer to in the context of the text?
What does 'plastic money' refer to in the context of the text?
What is the primary function of money as a 'unit of value'?
What is the primary function of money as a 'unit of value'?
'Medium of exchange' refers to money's function as:
'Medium of exchange' refers to money's function as:
'Standard of deferred payments' primarily relates to:
'Standard of deferred payments' primarily relates to:
'Store of value' in relation to money implies:
'Store of value' in relation to money implies:
What does 'fiat money' represent?
What does 'fiat money' represent?
Which type of money has been replaced with fiat money?
Which type of money has been replaced with fiat money?
Which characteristic of money ensures that it does not easily decompose, deteriorate, degrade, or otherwise change form over an extended period of time?
Which characteristic of money ensures that it does not easily decompose, deteriorate, degrade, or otherwise change form over an extended period of time?
Which type of money is backed 100% by precious metals?
Which type of money is backed 100% by precious metals?
What characteristic of money allows it to be divided into small increments for the exchange of goods with varying values?
What characteristic of money allows it to be divided into small increments for the exchange of goods with varying values?
Which function of money specifically refers to its ability to be widely used and accepted in transactions for the transfer of goods and services?
Which function of money specifically refers to its ability to be widely used and accepted in transactions for the transfer of goods and services?
What type of money has no consumption or investment use and is essentially worthless pieces of paper?
What type of money has no consumption or investment use and is essentially worthless pieces of paper?
'Checks' and 'e-money' primarily fall under which category of money?
'Checks' and 'e-money' primarily fall under which category of money?
What is the primary function of money as a 'standard of deferred payments'?
What is the primary function of money as a 'standard of deferred payments'?
What does 'fiat money' represent?
What does 'fiat money' represent?
What does 'store of value' in relation to money imply?
What does 'store of value' in relation to money imply?
What is the meaning of 'limited supply' in relation to money?
What is the meaning of 'limited supply' in relation to money?
Which type of money consists of the book credit that banks extend to their depositors?
Which type of money consists of the book credit that banks extend to their depositors?
'Plastic money' is used in reference to:
'Plastic money' is used in reference to:
'Fiat money' has replaced which type of money?
'Fiat money' has replaced which type of money?
'Acceptability' means that:
'Acceptability' means that:
What does 'noncounterfeit ability' mean in the context of money?
What does 'noncounterfeit ability' mean in the context of money?
What does 'commodity money' refer to?
What does 'commodity money' refer to?
Flashcards are hidden until you start studying
