Q9 Winnie - Question 1 Money functions as: Selected Answer:...

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Question 1 2 out of 2 points Money functions as: Selected Answer: all of the above. Correct Answer: all of the above. Question 2 2 out of 2 points When economists say that money serves as a medium of exchange, they mean that it is: Selected Answer: a means of payment. Correct Answer: a means of payment. Question 3 2 out of 2 points The paper money used in the United States is: Selected Answer: Federal Reserve Notes. Correct Answer: Federal Reserve Notes. Question 4 2 out of 2 points The largest component of the money supply ( M 1) is: Selected Answer: currency in circulation. Correct Answer: currency in circulation. Question 5 2 out of 2 points In the United States, the money supply ( M 1) is comprised of: Selected Answer: coins, paper currency, and checkable deposits. Correct Answer: coins, paper currency, and checkable deposits. Question 6 2 out of 2 points Checkable deposits are classified as money because: Selected Answer: they can be readily used in purchasing goods and paying debts. Correct Answer:
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This note was uploaded on 02/10/2011 for the course ECON 202 taught by Professor Kotlove during the Spring '11 term at Edmonds Community College.

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Q9 Winnie - Question 1 Money functions as: Selected Answer:...

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