Principles of Economics Study Set 4
Quiz 20: Money, Prices, and the Financial System
If You Post Your Car on Ebay with a Buy-It-Now
If you post your car on eBay with a Buy-It-Now price of $1,800,you are using money as: A)bank reserves. B)a medium of exchange. C)a unit of account. D)a store of value.
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If you put a $20 bill in the pocket of your winter coat at the beginning of spring so that you will be surprised when you find it again next winter,you are using money as: A)bank reserves. B)a medium of exchange. C)a unit of account. D)a store of value.
The main disadvantage of using money as a store of value is that: A)other assets provide greater anonymity than cash. B)barter is a more efficient way to conduct transactions than using money. C)unlike other assets,money serves as a medium of exchange. D)other assets pay relatively higher rates of interest than money.
The three functions of money are: A)spending for consumption,investment,and government purchases. B)measuring balance of payments,exchange rates,and interest rates. C)implementing monetary policy,fiscal policy,and structural policy. D)serving as a medium of exchange,unit of account,and store of value.
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