Macroeconomics Australia Study Set 1

Business

Quiz 10 :

Money, the Price Level and Inflation

Quiz 10 :

Money, the Price Level and Inflation

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Which of the following items is included in the M1 money supply?
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B

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A common trait of money through history and across cultures is that money
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D

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Money is any commodity or token that is
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C

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The unit of account is defined as
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The word "fiat" is
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In performing which of its primary functions does money solve the problem of the double coincidence of wants?
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When we keep part of our wealth in a bank cheque account, we are using money as a
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Which statement about money is most correct?
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Which of the following is an example of money?
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The function of money that helps assess the opportunity cost of an activity is money's use as a
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For an asset to be a "means of payment," the asset
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Money serves as a
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Money is used as a ________ when you visit the local farmers' market and compare prices across different vendors.
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What is a problem with barter that makes it so difficult to use?
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M1 is composed of
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Electronic cash (or e-cash), like Bitcoin,
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When we use money to purchase goods and services, we are using money as a
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When you use a credit card to pay your university fees,
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Fiat money means
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Credit cards are i. a generally accepted form of payment and therefore part of M1. ii. included in M1 because you write a cheque to pay your monthly bill. iii. a means of borrowing money.
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