quiz 20 - Quiz Chapter 20 Financial Institutions Official...

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Quiz: Chapter 20: Financial Institutions Official Score: 53% Recorded at 9/18/2008 4:30:20 AM (EST). 1) Money has not always been coins and paper bills. True False 2) Money makes it possible for us to hold onto value over time. True False Rationale: If a grocer had to hold onto the value of milk in milk, it would soon spoil. If he receives money for the milk, he can hold the money until he wishes to purchase something. Review this topic 3) If money grew on trees, and people had all they wanted,  money would have little value. True
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False Rationale: The money supply cannot be unlimited or it loses its value. Review this topic 4) Cashier's checks, money orders, and travelers' checks are  considered currency. True False Rationale: Cashier's checks, money orders, and travelers' checks are considered currency because they can be used even in situations where the individual cashing them is not personally known. Review this topic
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quiz 20 - Quiz Chapter 20 Financial Institutions Official...

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