Chapter 8 Multiple Choice Answer Key - Chapter 08 Money and...

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Macroeconomics
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Chapter 13 / Exercise 3
Macroeconomics
Roger A. Arnold
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Chapter 08 - Money and BankingChapter 08Money and BankingMultiple Choice Questions1. What is the primary aspect of money? A.It is widely acceptable.B. It is backed by gold reserves at the Bank of Canada.C. It is decreed by parliament as legal tender.D. It is guaranteed by the banking system.E. It is insured under the Canadian Deposit Insurance Act.
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 08-01 Describe the functions; characteristics; and history of money.Topic: 08-01 Money: Functions, Characteristics, and History2. Money is often said to be "socially defined." What does this mean?
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 08-01 Describe the functions; characteristics; and history of money.Topic: 08-01 Money: Functions, Characteristics, and History8-1
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The document you are viewing contains questions related to this textbook.
Macroeconomics
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Chapter 13 / Exercise 3
Macroeconomics
Roger A. Arnold
Expert Verified
Chapter 08 - Money and Banking3. Which of the following is a major function of money?
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 08-01 Describe the functions; characteristics; and history of money.Topic: 08-01 Money: Functions, Characteristics, and History4. If you put some of your summer earnings into a safety deposit box at the bank, which function of money would you be using?
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 08-01 Describe the functions; characteristics; and history of money.Topic: 08-01 Money: Functions, Characteristics, and History5. If a student takes some of her money out of her safety deposit box at a bank in order to buy a used Porsche, which function of money would she be using? A.A medium of exchange.B. A store of wealth.C. A unit of account.D. A medium of exchange, a store of wealth, and a unit of account.
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 08-01 Describe the functions; characteristics; and history of money.Topic: 08-01 Money: Functions, Characteristics, and History8-2
Chapter 08 - Money and Banking

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