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macro hw 5 - hw5 Multiple Choice Identify the choice that...

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hw5 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Money a. is more efficient than barter. b. makes trades easier. c. allows greater specialization. d. All of the above are correct. 2. Paper money 3. The existence of money leads to 4. Changes in the quantity of money affect 5. Which of the following is a store of value? a. currency b. U.S. government bonds c. fine art d. All of the above are correct. 6. Which of the following best illustrates the unit of account function of money? 7. The “yardstick” people use to post prices and record debts is called 8. Economists use the word "money" to refer to 9. Liquidity refers to a. the ease with which an asset is converted to the medium of exchange. b. a measurement of the intrinsic value of commodity money.
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