Money Supply

which one is money ?

• cash
• cheque
• draft
• all the above

Barter system is now replaced by

• Banking system
• International system
• Monetary system
• Financial system

The difference between representative money and fiat money is that

• representative money is worth more than fiat money.

• fiat money is counted in coins; representative money is counted in paper dollars.

• fiat money is more durable than representative money.

• representative money is backed by silver or gold, ; fiat money is not.

Which of the following is not a characteristic of money?

• Divisibility

• Portability

• Acceptability

• Responsibility

What is the Federal Reserve?

• Agency responsible for international trade
• Central credit union
• Agency responsible for collecting taxes
• Central bank of the U.S.

Currently, what is U.S. money backed by?

• Frankincense
• Gold
• Silver
• Trust that it is worth something

Which of the following is NOT one of the characteristics of money?

• durable
• stable
• scarce
• affordable

This is money that has another useful purpose.

• fiat
• commodity
• debt
• securities

Which of the following are the functions of money? Multi-select options.

• As a medium of exchange

• As a store of wealth

• As a means of valuating different types of goods and services

• As a mean of establishing future claims and payments

This characteristic of money refers to the ability to carry it with you---lightweight and easy to transport.

• portability
• uniformity
• acceptability
• stability