18 Questions
Which characteristic of money allows it to withstand wear and tear, as mentioned in the text?
Durability
What characteristic must money possess to ensure that equal parts after division have equal weight and fineness?
Homogeneity
What is the defining characteristic of commodity money?
It has a commodity value of its own
Which type of money is represented by a claim on a commodity and can be redeemed for that commodity at a bank?
Representative Paper Money
What is the material composition of Philippine paper currency, as stated in the text?
80% cotton and 20% abaca fibers
Which form of money can easily be increased or decreased based on the economy's needs, as mentioned in the text?
Paper Money
What is the main difference between fiduciary paper money and representative paper money?
Fiduciary paper money is backed by partial gold reserves, while representative paper money is backed by 100% gold reserves
What enables money to withstand manipulation by monetary authorities, as per the text?
Elasticity
What type of credit instrument is widely acceptable in payment for goods and services?
Fiduciary Paper Money
Which characteristic of money ensures that its value remains intact even after being divided into smaller denominations?
Divisibility
Which type of money has a commodity value that must equal its money value for circulation?
Commodity Money
In the context of banknotes, what does fiduciary paper money rely on for its value?
Partial gold or silver reserve
What feature of traditional banknotes makes them the first and most important line of defense against counterfeiting?
Embossed or raised print nature of the ink
What makes it difficult to counterfeit paper currencies according to the text?
Quality of cotton-based paper
Which security feature is described as a shadow image of the portrait on a banknote?
Watermark see-through mark
What is the main purpose of comparing a suspicious bill to a known genuine bill?
To determine if it is counterfeited
Which security feature on Philippine peso bills includes alphanumeric characters and visible red and blue fibers?
Security fibers
Why is offering bullion for conversion into coins not allowed under this method mentioned in the text?
To ensure the security of paper currencies
Test your knowledge about the new generation currency and its features, including the best new banknote series and currency feature. Learn about the initiative by DOST researchers to produce currency bank paper from local indigenous materials. Explore concepts like kinds of money and commodity money.
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