Chapter 14 Review Questions

Chapter 14 Review Questions - ECN 211: Spring Semester,...

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ECN 211: Spring Semester, 2008 Review Questions Chapter 14 Multiple Choice ____ 1. The exchange of one good for another, without the use of money, is known as: a. investment. . b. liquidity. c. volatility. d. barter. e. currency. ____ 2. The use of dollar bills to buy a concert ticket represents the function of money as a: a. medium of exchange. b. unit of account. c. store of value. d. none of the above. ____ 3. Comparing how many dollars it takes you to run your car each year to annual earnings on a job instead of keeping track of costs in terms of gallons of gasoline and quarts of oil represents the use of money as: a. means of payment. b. unit of account. c. store of purchasing power. d. form of plastic money. ____ 4. One hundred dollars on deposit in a checking account represents the use of money as a: a. medium of exchange. b. store of value. c. unit of account. d. coincident exchange. ____ 5. Credit cards are: a. M1 money. b. M2 money c. M3 money. d. M4 money e. not a part of any definition of the money supply. ____ 6. The currency of the United States is: a. backed dollar for dollar by gold. b.
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Chapter 14 Review Questions - ECN 211: Spring Semester,...

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