Money Types

Which of the following is NOT a function of money?

• Store of value

• Unit of account

• Medium of exchange

• Exchange of debt

This type of money is valuable because it is made of something valuable.

• Commodity money

• Representative money

• Fiat money

This type of money consists of a certificate or token that can be exchanged for an item of value.

• Commodity money

• Representative money

• Fiat money

This type of money does not have any intrinsic value and does not represent an asset in a vault.

• Commodity money

• Representative money

• Fiat money

This type of money is considered legal tender and gets its value from the people's faith in the government.

• Commodity money

• Representative money

• Fiat money

The fact that people will allow you to buy items with a $20 bill is an example of which characteristic of money.

• Durability

• Portability

• Divisibility

• Uniformity

• Acceptability

The fact that a $20 bill can be exchanged for a 10, a 5 and 5 ones is an example of which characteristic of money?

• Durability

• Portability

• Divisibility

• Uniformity

• Acceptability

Our money supply is limited in an attempt to control its value. This is an example of which characteristic of money?

• Durability

• Portability

• Divisibility

• Scarcity

• Acceptability

The fact that your currency fits easily into your pocket, wallet or purse is an example of which characteristic of money?

• Durability

• Portability

• Divisibility

• Scarcity

• Acceptability

Which of these items are considered commodities?

• oil

• water

• agricultural crops

• precious metals like gold