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Questions and Answers
What is the term used to describe the ease with which an asset can be converted into the medium of exchange and used to buy other things?
What is the term used to describe the ease with which an asset can be converted into the medium of exchange and used to buy other things?
- Profitability
- Viability
- Solvency
- Liquidity (correct)
What is money that is established as money by government decree known as?
What is money that is established as money by government decree known as?
- Commodity money
- Reserve money
- Virtual money
- Fiat money (correct)
What is the term used for money that has intrinsic value and is used as a medium of exchange?
What is the term used for money that has intrinsic value and is used as a medium of exchange?
- Digital money
- Virtual money
- Fiduciary money
- Commodity money (correct)
What is the term for the system where the economy uses gold as money or uses paper money redeemable for gold?
What is the term for the system where the economy uses gold as money or uses paper money redeemable for gold?
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What is the term used to describe money as a way to transfer purchasing power from the present to the future?
What is the term used to describe money as a way to transfer purchasing power from the present to the future?
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