Econ ch14
Authored by Thomas Green
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29 questions
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1.
OPEN ENDED QUESTION
30 sec • 1 pt
Money functions as:
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Answer explanation
a store of value. a unit of account. a medium of exchange.
2.
OPEN ENDED QUESTION
30 sec • 1 pt
If you place a part of your summer earnings in a savings account, you are using money primarily as a:
Evaluate responses using AI:
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Answer explanation
store of value.
3.
OPEN ENDED QUESTION
30 sec • 1 pt
A $70 price tag on a sweater in a department store window is an example of money functioning as a:
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Answer explanation
unit of account.
4.
OPEN ENDED QUESTION
30 sec • 1 pt
Purchasing common stock by writing a check best exemplifies money serving as a:
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OFF
Answer explanation
medium of exchange.
5.
OPEN ENDED QUESTION
30 sec • 1 pt
When economists say that money serves as a unit of account, they mean that it is:
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Answer explanation
a monetary unit for measuring and comparing the relative values of goods.
6.
OPEN ENDED QUESTION
30 sec • 1 pt
When economists say that money serves as a store of value, they mean that it is:
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Answer explanation
a way to keep wealth in a readily spendable form for future use.
7.
OPEN ENDED QUESTION
30 sec • 1 pt
In the United States, the money supply (M1) includes:
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Answer explanation
coins, paper currency, and checkable deposits.
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