201_HW6_(11-24-09) - ECO201: MACROECONOMICS Homework #6...

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ECO201: MACROECONOMICS Homework #6 Multiple-Choice Questions (one point each): 1. Money functions as: A) a store of value. B) a unit of account. C) a medium of exchange. D) all of the above. 2. If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as: A) a medium of exchange. B) a store of value. C) a unit of account. D) an economic investment. 3. When economists say that money serves as a medium of exchange, they mean that it is: A) a way to keep wealth in a readily spendable form for future use. B) a means of payment. C) a monetary unit for measuring and comparing the relative values of goods. D) declared as legal tender by the government. 4. The paper money used in the United States is: A) National Bank Notes. B) Treasury Notes. C) United States Notes. D) Federal Reserve Notes. 5. The purchasing power of the dollar: A) has been increasing in recent years because of economic growth. B) varies directly with the cost-of-living index.
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201_HW6_(11-24-09) - ECO201: MACROECONOMICS Homework #6...

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