MONEY Review

Anything that is used as a medium of exchange, a unit of account, and a store of value?

• Fiat Money

• Goods

• Money

• Fiat Money
• Commodity Money

• Fiat Money
• Commodity Money

What type of money does the U.S. use?

• Fiat Money
• Commodity Money

Beads were once used as money. The characteristic of money that is most similar to our currency today is what?

• Portability

• Durability

• Limited Supply

• Uniformity

What function of money the picture represent? 

• Medium of Exchange
• Store of Value
• Unit of Account
• Acceptable 

What is NOT a characteristic of money? 

• Divisible
• Portable
• Acceptable
• Accessible

Money that has value because the Government declared that it is money.

• Fiat Money
• Commodity Money
• Currency
• Coins

Trade is made easier because of this function of money that eliminates the need to barter (trade goods for goods).

• Store of Value
• Medium of Exchange
• Unit of Account
• Divisibility

What of the following is not true? Bank...

• is a financial institution

• is a financial intermediary

• is a private business and is not regulated

• connects customers that have capital deficits to customers with capital surpluses

• accepts deposits and channels those deposits into lending activities