The Evolution, Functions, and Characteristics of Money

_________________: a moneyless economy that relies on trade

• fiat

• commodity

• barter

• tallers

________________: money that has an alternative use

• fiat

• barter

• commodity

• specie

________________: money by government decree

• fiat

• barter

• commodity

• specie

________________: money in the form of gold or silver coins

• fiat

• barter

• commodity

• specie

Select all of the following forms of money that are NO LONGER used

• commodity

• dollar

• specie

• fiat (continental dollar)

durable, divisible, limited are all what?

• functions of money

• federal reserve notes

• formerly used currencies

• characteristics of money

medium of exchange, measure of value, and store of value are all what?

• functions of money

• federal reserve notes

• formerly used currencies

• characteristics of money

Which of the following are how the Fed Measures Money

• currency

• M1 and M2

• DDA's

• dollars

What is M1?

• measure of money including coins, currency, checks, DDA's

• savings deposits, time deposits, and money market funds

• currency

• functions of money

What is M2?

• measure of money including coins, currency, checks, DDA's

• all of M1 and savings deposits, time deposits, and money market funds

• currency

• functions of money