hw_7 - View Attempt

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View Attempt https://compass.uiuc.edu/webct/urw/lc178263038031.tp178316624131/v. .. 1 of 18 3/27/2008 7:56 AM View Attempt 0 of 1 Title: HW7 (CH10) Started: March 27, 2008 7:56 AM Submitted: March 27, 2008 7:56 AM Time spent: 00:00:22 Comments: Total score: 0/32 = 0% Total score adjusted by 0.0 Maximum possible score: 32 Done 1. Which of the following factors causes the barter system to be inefficient? Student Response Value Correct Answer Feedback 1. Its cost of transaction is too high. 0% 2. The cost associated with information search is too high. 0% 3. It requires a double coincidence of wants. 0% 4. All of these 100% Score: 0/1 Comments: 2. Choose the correct statement regarding money Student Response Value Correct Answer Feedback 1. Money is income 0% 2. Money is wealth 0% 3. Money is a means of payment 100% 4. 1 and 2 are both correct 0%
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View Attempt https://compass.uiuc.edu/webct/urw/lc178263038031.tp178316624131/v. .. 2 of 18 3/27/2008 7:56 AM Student Response Value Correct Answer Feedback 5. 1 and 3 are both correct 0% Score: 0/1 Comments: 3. You want to buy a new car and the car dealer tells you that the car you are interested in is worth $25,000. This is an example of money being used as a Student Response Value Correct Answer Feedback 1. store of value. 0% 2. medium of exchange. 0% 3. unit of account. 100% 4. investment good. 0% Score: 0/1 Comments: 4. Barter is Student Response Value Correct Answer Feedback 1. the exchange of money for goods 0% 2. the exchange of money in a bank 0% 3. the direct exchange of goods and services for other goods and services 100% 4. anything that has a good store 0%
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View Attempt https://compass.uiuc.edu/webct/urw/lc178263038031.tp178316624131/v. .. 3 of 18 3/27/2008 7:56 AM Student Response Value Correct Answer Feedback of value and a good standard of deferred payment. 5. None of the above are correct 0% Score: 0/1 Comments: 5. Walmart reports its inventory is worth $1 million. This is an example of using money as a Student Response Value Correct Answer Feedback 1. unit of account. 100% 2. standard of deferred payment. 0% 3. medium of exchange. 0% 4. store of value. 0% Score: 0/1 Comments: 6. Today we use coins and notes as money. This is an example of Student Response Value Correct Answer Feedback 1. fiat money. 100% 2. legal money. 0% 3. broad money. 0% 4. commodity money. 0% Score: 0/1
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View Attempt https://compass.uiuc.edu/webct/urw/lc178263038031.tp178316624131/v. .. 4 of 18 3/27/2008 7:56 AM Comments: 7. Which of the following is an example of fiat money? Student Response Value Correct Answer Feedback 1. An ounce of gold purchased from the US Mint 0% 2. A U S quarter 0% 3. A U.S. ten dollar bill 0% 4. 1 and 2 are both correct 0% 5. 2 and 3 are both correct 100% Score: 0/1 Comments: 8. Choose the true statement about M1
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hw_7 - View Attempt

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