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Unformatted text preview: 12/11/08 1:47 AM Blackboard Learning System Page 1 of 8 http://webct.csmd.edu/webct/cobaltMainFrame.dowebct View Attempt 2 of 3 Title: Lesson 7 Quiz (Required for course grade) Started: December 11, 2008 1:03 AM Submitted: December 11, 2008 1:47 AM Time spent: 00:43:44 Total score: 70/100 = 70% Total score adjusted by 0.0 Maximum possible score: 100 Done 1. Fiat money is: Student Response Value Correct Answer Feedback A. composed only of checkable deposits. B. money because the government asserts that it is. C. money that is "resting" in a commercial bank vault. D. money that can be redeemed for an 0% Your location: Assessments › View All Submissions › View Attempt 12/11/08 1:47 AM Blackboard Learning System Page 2 of 8 http://webct.csmd.edu/webct/cobaltMainFrame.dowebct intrinsically valuable commodity such as gold. Score: 0/10 Comments: 2. A $200 price tag on a cashmere sweater in a department store window is an example of money functioning as a: Student Response Value Correct Answer Feedback A. unit of account. 100% B. standard of deferred payments. C. store of value. D. medium of exchange. Score: 10/10 Comments: 3. Answer the next question(s) on the basis of the following information about a banking system: new currency deposited in the system = $40 billion; legal reserve ratio = 0.20; excess reserves prior to the currency deposit = $0.deposit = $0....
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This note was uploaded on 02/25/2009 for the course ACC 101 taught by Professor Fried during the Spring '09 term at Coastline Community College.
- Spring '09