ch16_monetary system

ch16_monetary system - Uh Chapter16 TheMonetarySystem...

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Uh Chapter 16 The Monetary System MULTIPLE CHOICE 1. Money a. is more efficient than barter. b. makes trades easier. c. allows greater specialization. d. All of the above are correct. ANSWER: d. All of the above are correct. TYPE: M DIFFICULTY: 1 SECTION: 16.1 2. Paper money 3. Barter 4. When Arnold use dollars to record his income and expenses, he is using money as a 5. Which of the following is a store of value? a. currency b. U.S. government bonds c. fine art d. All of the above are correct. ANSWER: d. All of the above are correct. TYPE: M DIFFICULTY: 1 SECTION: 16.1 175
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176 Chapter 16/The Monetary System 6. Which of the following best illustrates the unit of account function of money? 7. Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate? 8. Which of the following best illustrates the medium of exchange function of money?
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