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Macro Sample Test _6 Ch 12,13,14

Macro Sample Test _6 Ch 12,13,14 - MacroTest#6Ch12,13,14...

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Macro Test #6 Ch 12,13,14 Student: ___________________________________________________________________________ 1. What function is money serving when you buy a ticket to a movie? A. A store of value B. A unit of account C. A transaction demand D. A medium of exchange 2. What function is money serving when you deposit money in a savings account? 3. The M 1 money supply is composed of: 4. Cathy Rogers deposits $200 in currency in her checking account at a bank. This deposit is treated as: 5. What "backs" the money supply? A. The U.S. government's ability to keep the value of money relatively stable B. The amount of gold the U.S. government has on deposit at its banks C. The fact that currency is issued as Federal Reserve Notes D. The fact that the intrinsic value of coins in circulation is greater than their face value
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6. If the price index rises from 100 to 130, the value of the dollar will fall by about: 7. The Federal Reserve Banks are owned by the:
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