Macro Ch 8: Money

Which of the following is NOT a function of money?

• Unit of Account

• medium of exchange

• liquidity value

• store of value

The term "legal tender" serves which basic function?

• medium of exchange

• standard of value

• store of value

• divisibility

Purchasing power is what function of money?

• medium of exchange

• standard of value

• store of value

• durability

Which of the following is a shortcoming of monopoly money?

• scarcity

• portability

• divisibility

• uniformity

When we say that money comes in units of $1, $5, $10, we are describing what characteristic?

• acceptability

• portability

• scarcity

• divisibility

Bitcoin's questionable money status is based on which of the following?

• scarcity

• divisibility

• acceptability

• uniformity

A gold certificate is what type of money?

• crypto

• representative

• fiat

• credit card

Federal Reserve notes and paper currency is known as

• fiat currency

• representative currency

• commodity backed currency

• cryptocurrency

What currently makes the US money "money?"

• faith

• gold or silver

• Hollywood stars

• a bank

The division of money into M1, M2, and M3 is based on

• assets

• supply

• amount in circulation

• liquidity