TB_Ch_18 - Chapter 18Money and the Federal Reserve System...

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Principles of Macroeconomics
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Chapter 16 / Exercise 2
Principles of Macroeconomics
Mankiw
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Chapter 18—Money and the Federal Reserve SystemMULTIPLE CHOICE1.A barter economy is one in which:a.money serves as a medium of exchange.b.only precious metals are accepted as money.c.goods are traded directly for other goods.d.paper money is backed by gold.ANS: C
PTS:1DIF:ETOP:BarterTYP:RE2.Compared to a barter economy, using money increases efficiency by reducing:
PTS:1DIF:MTOP:BarterTYP:RE3.Barter is the:
PTS:1DIF:ETOP:BarterTYP:RE4.A direct exchange of fish for corn is an example of:
PTS:1DIF:ETOP:BarterTYP:RE5.The exchange of one good for another, without the use of money, is known as:a.acquisitive exchange.b.liquidity.c.volatility.d.barter.e.currency.ANS: D
PTS:1DIF:ETOP:BarterTYP:RE6.Barter requires:
PTS:1DIF:MTOP:BarterTYP:RE
We have textbook solutions for you!
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Principles of Macroeconomics
The document you are viewing contains questions related to this textbook.
Chapter 16 / Exercise 2
Principles of Macroeconomics
Mankiw
Expert Verified
7.In order for barter to occur, traders must have a:
PTS:1DIF:ETOP:BarterTYP:RE8.For barter exchange to take place,
PTS:1DIF:ETOP:BarterTYP:RE9.Which of the following defines the "medium of exchange" function of money?a.To provide a common measurement of the relative value of different goods and services.b.The ability of money to hold value over time.c.The materials used manufacture money are of medium grade so that people will not hoard money for its commodity value.d.Money that is widely accepted in exchange for goods and services.ANS: D
PTS:1DIF:ETOP:MoneyTYP:RE10.Which of the following defines the "unit of account" function of money?
PTS:1DIF:ETOP:MoneyTYP:RE

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