Chapter 10-1

What is the term for trading goods and services directly without using money?

• Currency exchange
• Barter
• Unit of account
• Store of value

Which type of money has value because the government says it has value, like paper dollars?

• Representative money
• Commodity money
• Store of value
• Fiat money

What is something that can be used to measure the value of goods and services called?

• Unit of account
• Store of value
• Currency
• Barter system

Gold and silver coins are examples of what type of money?

• Fiat money
• Representative money
• Commodity money
• Paper currency

What is the main purpose of money when we save it for future use?

• Currency exchange
• Store of value
• Barter system
• Unit of measure

What do we call the physical forms of money used in a country?

• Representative money
• Fiat money
• Unit of account
• Currency

What type of money represents something valuable but isn't valuable itself, like old paper bills backed by gold?

• Representative money
• Commodity money
• Fiat currency
• Store of value

Which best describes the main function of money in our economy?

• To collect taxes
• To make trading easier
• To create wealth
• To cause inflation