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Unformatted text preview: 20 Student: _______________________________________________________________________________________ True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False 1. Economic growth and the creation of jobs depend on the availability of money. 2. Most countries restrict the flow of money in and out of their borders. 3. Economic events in other nations seldom impact the powerful U.S. economy. 4. Barter is the trading of goods and services for other goods and services. 5. Barter involves the use of electronic payment systems, like Paypal.com, for online transactions. 6. Money is anything people generally accept as payment for goods and services. 7. Efficient monetary systems eliminate the use of barter. 8. A barter exchange is a system where you input into a system the goods and services that you are willing to trade, and receive trade credit. 9. Coins and bills are portable and durable. 10. The strength of the U.S. money system rests on the silver content of the coins. 11. Electronic cash is the newest form of money. 12. Historically, coins and paper money complicated the exchange process. 13. The U.S. government has done its best to create dollar bills that are easily duplicated. 14. Companies are now developing ways to send money across national boundaries using mobile phones. 15. The President of the U.S. is in control of the money supply in the U.S. 16. Several European countries report a significant decrease in the level of jobs, income, and production of goods and services. The size and strength of the U.S. economy insulates U.S. businesses from the economic problems of other countries. 17. Real dollars are made with various lines of colors such as peach and blue. They have art work that is off-center, and there are other identifiable watermarks for the purpose of making replication quite easy. 18. The currencies of some countries, although durable and portable are relatively unstable, which makes international exchanges difficult. 19. The problem with barter exchanges is that it is too difficult to find people to exchange your good with. True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False 20. Trading internationally by using money appears easy and almost effortless, but the fact is there is a very complex banking system that makes it happen. 21. The U.S. production of the Sacagawea dollar coins provides greater durability than paper dollar bills. 22. The people living on the island nation of Wacki-ki readily accept a certain type of seashell as payment for the goods and services they trade. For Wackians (the name of Wacki-ki natives), seashells serve as money....
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