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AP Macro Unit 4 Vocab #1

AP Macro Unit 4 Vocab #1

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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15 questions

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1.

FLASHCARD QUESTION

Front

Fiat Money

Back

Performs the function of money but has no other value or uses.

2.

FLASHCARD QUESTION

Front

Commodity Money

Back

Performs the function of money and has intrinsic value.

3.

FLASHCARD QUESTION

Front

Money:

Back

Anything generally accepted for goods/services.

4.

FLASHCARD QUESTION

Front

Income

Back

a flow of earnings per unit of time

5.

FLASHCARD QUESTION

Front

Wealth

Back

the total collection of assets

6.

FLASHCARD QUESTION

Front

Double Coincidence of Wants

Back

Before trade, each trader must have something the other wants.

7.

FLASHCARD QUESTION

Front

Liquidity

Back

Ease of accessing and using an asset as a medium of exchange.

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