Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following is not considered a candidate for inclusion in the US money supply?
Which of the following is not considered a candidate for inclusion in the US money supply?
- Gold minted by king/emperor (correct)
- Travelers cheques
- Money held in foreign accounts
- Demand deposits with cheque or payments facilities (“current accounts”)
What is the function of money that is vastly more efficient than barter and does not require the 'double coincidence of wants'?
What is the function of money that is vastly more efficient than barter and does not require the 'double coincidence of wants'?
- Unit of Account
- Medium of Exchange (or Means of Payments) (correct)
- Money market funds
- Store of Value
Under the Gold Standard, what is the relationship between the amount of cash and the amount of gold?
Under the Gold Standard, what is the relationship between the amount of cash and the amount of gold?
- Cash and gold are completely independent of each other
- The amount of cash is determined by the government's discretion
- The amount of cash is fixed mechanically to the amount of gold (correct)
- There is no relationship between cash and gold
Which of the following is considered a time deposit?
Which of the following is considered a time deposit?
Signup and view all the answers
What type of deposit is considered highly liquid and serves as a store of value in a modern economy?
What type of deposit is considered highly liquid and serves as a store of value in a modern economy?
Signup and view all the answers
