Economics-Macroeconomics

Business

Quiz 8 :

Money, the Price Level, and Inflation

Quiz 8 :

Money, the Price Level, and Inflation

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The direct exchange of goods and services for other goods and services is known as
Free
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C

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The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a
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A

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The "double coincidence of wants" problem is
Free
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C

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The most direct way in which money replaces barter is through its use as a
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When money is accepted as payment in a market transaction, it is functioning as a
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The functions of money are
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Barter occurs when you exchange
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Which of the following is NOT considered a function of money?
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Money's function as a medium of exchange means that
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Aside from being a means of payment, the other functions of money are
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Which of the following does NOT describe a function of money?
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If an economy has no money, then all transactions must be conducted through the use of
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Which of the following is a primary function of money?
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Money
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When you buy a hamburger for lunch, you are using money as a
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Barter is
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Which of the following does NOT describe a function of money?
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A medium of exchange is
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In a barter system, we would see
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The fact that using money avoids the double coincidence of wants necessary in a barter economy illustrates which function of money?
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