Quiz 4.1 - Quiz 4.1 User ID: skim7 Attempt: 1 / 3 Out of:...

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Quiz 4.1 User ID: skim7 Attempt: 1 / 3 Out of: 25 Started: November 23, 2004 9:05pm Finished: November 23, 2004 9:07pm Time spent: 1 min. 24 sec. Question 1 (1 point) Which of the following is not a form of money? Student response: Percent Value Student Response Answer Choices a. commodities b. travelers checks 100.0% c. credit cards d. checking accounts Score: 1 / 1 Question 2 (1 point) Which of the following is not a use of money? Student response: Percent Value Student Response Answer Choices a. store of value 100.0% b. measure of inflation c. unit of account d. medium of exchange Score: 1 / 1 Question 3 (1 point) When a consumer uses a $10 bill to pay for $10 worth of groceries, the $10 bill is serving which of the functions of money? Student response: Percent Value Student Response Answer Choices a. medium of exchange b. unit of account c. store of value 100.0% d. all of the above Score: 1 / 1 Question 4 (1 point) Fiat money is used for all of the following purposes except Student response: Percent Value Student Response Answer Choices
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a. as a medium of exchange. b. as a store of value. 100.0% c. consumption for its intrinsic value. d. as a unit of account. Score: 1 / 1 Question 5 (1 point) The most narrowly defined measure of money is Student response: Percent Value Student Response Answer Choices a. checking accounts. b. M3. 100.0% c. items used as a medium of exchange. d. fiat money. Score: 1 / 1 Question 6 (1 point) Checking accounts are part of Student response: Percent Value Student Response Answer Choices a. M1. b. M2. c. M3. 100.0% d. all of the above. Score: 1 / 1 Question 7 (1 point) Increases in the price level will cause the money demand curve to shift _____, and increases in income will cause it to shift _____. Student response: Percent Value Student Response Answer Choices a. in, in b. in, out c. out, in 100.0% d. out, out Score: 1 / 1 Question 8 (1 point) The opportunity cost(s) of money include Student response: Percent
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Value Student Response Answer Choices 100.0% a. the income earned if the money had been used to purchase a financial asset that earns interest. b. the goods that could have been bought. c. the equivalent value in gold. d. all of the above. Score: 1 / 1 Question 9 (1 point) The money demand curve assumes which of the following is NOT constant? Student response: Percent Value Student Response Answer Choices a. income b. prices 100.0% c. interest rate d. none of the above; they are all assumed constant. Score: 1 / 1 Question 10 (1 point) The money supply curve Student response: Percent Value Student Response Answer Choices 100.0% a. is vertical because the Fed controls the money supply. b. is horizontal because the price of money is always the interest rate. c. slopes upward because supply curves always slope upward, no matter what
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This note was uploaded on 06/18/2011 for the course ECON 101 taught by Professor Vicek during the Spring '11 term at Parkland.

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Quiz 4.1 - Quiz 4.1 User ID: skim7 Attempt: 1 / 3 Out of:...

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