Gold used as Money: Is commodity money Would be a medium of exchange Has no intrinsic value Both A and B are correct. Fu...
Gold used as Money:
Is commodity money
Would be a medium of exchange
Has no intrinsic value
Both A and B are correct.
Funds in your checking account:
Would be included in your list of assets
Is a medium of exchange
Is fiat money
All of the above are true
Homework Answers
Ans) the correct option is Both A and B are correct
Ans) the correct option is Would be included in your list of assets.
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Gold used as Money: Is commodity money Would be a medium of exchange Has no intrinsic value Both A and B are correct. Fu...
Gold-backed money: uses more gold resources than does the commodity money such as gold coins has...
Gold-backed money: uses more gold resources than does the commodity money such as gold coins has no intrinsic value but the value is guaranteed that it can be converted into gold at certain price is a way to provide the functions of money without tying up its value to gold none of the above
Money is anything that serves asa_ OUnit of account Store of value O Medium of exchange...
Money is anything that serves asa_ OUnit of account Store of value O Medium of exchange O None of the above. QUESTION 20 Which one of the following is fiat money? OA Federal Reserve Note OA candy bar A gold bar OA credit card QUESTION 21 If the reserve ratio is 10 percent, $1,400 of additional reserves can create up to $140 of new money $14,000 of new money $140,000 of new money. O None of the above is correct.
1.) Gold, silver, and furs, when used as money, are referred to as fiat money precious...
1.) Gold, silver, and furs, when used as money, are referred to as fiat money precious money paper currency commodity money exchange money 2.) The money supply is considered to be M1. M1 consists of what? currency + checking account balances + saving account balances currency + checking account balances + travelers' checks currency + checking account balances + credit cards currency + credit cards + certificates of deposit currency only 3.) The main purpose of financial intermediaries is that...
Gold, silver, and furs, when used as money, are referred to as a- fiat money b-precious...
Gold, silver, and furs, when used as money, are referred to as a- fiat money b-precious money c-paper currency d-commodity money The money supply is considered to be M1. M1 consists of what? a-currency + checking account balances + saving account balances b-currency + checking account balances + travelers' checks c-currency + checking account balances + credit cards d-currency + credit cards + certificates of deposit e-currency only The main purpose of financial intermediaries is that a-the process of finding...
Which of the following statements is (are) correct? (x) If you mark the prices of shirts...
Which of the following statements is (are) correct? (x) If you mark the prices of shirts at your clothing store in dollars you are using money as a unit of account (y) When you pay for your food at the restaurant with currency you are utilizing the medium of exchange function of money. (z) Any item that people can use to transfer purchasing power from the present to the future is called a store of value A. (x), (y), and...
37) Fiat money means A) the money that has intrinsic value. B) only currency counts as...
37) Fiat money means A) the money that has intrinsic value. B) only currency counts as money. C) the money can be converted into gold. D) the government has decreed that something is money. 38) M1 is composed of A) currency held by individuals and businesses, traveler's checks, and the credit line on credit cards. B) currency held by individuals and businesses, traveler's checks, and demand deposits owned by individuals and businesses C) currency inside of banks, traveler's checks, and...
1) Which of the following is not a form of commodity money? a) cigarettes b) All...
1) Which of the following is not a form of commodity money? a) cigarettes b) All of these c) checks d) precious stones 2) Legal tender is a) money that a government has required to be accepted in settlement of debts. b) money that has a value other than as a currency. c) money that must be backed by gold. d) money that must be accepted as payment for goods and services. 3) Sarafina withdraws $450 from her saving account...
Question 12 (1 point) Fiat money functions well only if can be redeemed for gold or...
Question 12 (1 point) Fiat money functions well only if can be redeemed for gold or other precious metals. can serve well as a medium of exchange, but not as a store of value. has no value or very little value except as money. O is rarely used in modern economies. Question 13 (1 point) U.S. labor force participation was increasing in the 1970s and 1980s. Which of these is (are) true? Female labor force participation was rising; male labor...
Fiat money A. is otherwise valueless paper made money by law. B. has value in addition...
Fiat money A. is otherwise valueless paper made money by law. B. has value in addition to being money. C. does not function as a store of value. D. does not function as a medium of exchange. E. has always been the money in use in the United States.
Which of the following would be considered fiat money in the US? A. A gold coin...
Which of the following would be considered fiat money in the US? A. A gold coin B. A computer C. A twenty-dollar bill D. A bottle of water E. All of the above Without money, which of the following will occur? A. People give up trading goods and services B. Nothing serves as a store of value C. People everywhere become self-sufficient D. People must spend large amounts of time finding someone who has exactly what they want E. None...
Money is anything that serves asa_ OUnit of account Store of value O Medium of exchange O None of the above. QUESTION 20 Which one of the following is fiat money? OA Federal Reserve Note OA candy bar A gold bar OA credit card QUESTION 21 If the reserve ratio is 10 percent, $1,400 of additional reserves can create up to $140 of new money $14,000 of new money $140,000 of new money. O None of the above is correct.
37) Fiat money means A) the money that has intrinsic value. B) only currency counts as money. C) the money can be converted into gold. D) the government has decreed that something is money. 38) M1 is composed of A) currency held by individuals and businesses, traveler's checks, and the credit line on credit cards. B) currency held by individuals and businesses, traveler's checks, and demand deposits owned by individuals and businesses C) currency inside of banks, traveler's checks, and...
Question 12 (1 point) Fiat money functions well only if can be redeemed for gold or other precious metals. can serve well as a medium of exchange, but not as a store of value. has no value or very little value except as money. O is rarely used in modern economies. Question 13 (1 point) U.S. labor force participation was increasing in the 1970s and 1980s. Which of these is (are) true? Female labor force participation was rising; male labor...
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