Macro Quiz 7

Macroeconomics

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1. 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. Question 1 answers Selected Answer: Correct A Correct Answer: Correct A Question 2 text Question 2 9.1 out of 9.1 points Correct 2. When economists say that money serves as a unit of account, they mean that it is: A) away 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. Question 2 answers Selected Answer: Correct C Correct Answer: Correct C Question 3 text Question 3 9.1 out of 9.1 points Correct 3. In the United States, the money supply (M1) is comprised of: A) coins, paper currency, and checkable deposits. B) currency, checkable deposits, and Series E bonds. C) coins, paper currency, checkable deposits, and credit balances with brokers. D) paper currency, coins, gold certificates, and time
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deposits. Question 3 answers
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This homework help was uploaded on 04/09/2008 for the course EC 133 taught by Professor Pranzo during the Spring '08 term at New Haven.

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Macro Quiz 7 - 1 If you write a check on a bank to purchase...

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