Functions of Money - 1

Functions of Money - 1

University

10 Qs

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Functions of Money - 1

Functions of Money - 1

Assessment

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Sujata Debnath

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most important function of money?

Store of wealth

Medium of exchange

Deferred payments

Unit of production

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What problem does money eliminate that was present in the barter system?

Overproduction

Price control

Double coincidence of wants

Inflation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is money considered a medium of exchange?

Because it increases demand

Because it is perishable

Because it facilitates all transactions

Because it is produced by banks

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is true?

Money can directly satisfy human wants

Money has intrinsic satisfaction value

Money is used only in barter systems

Money only buys goods and services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What allows purchases and sales to be conducted independently?

Financial institutions

Use of money

Division of labor

Barter exchange

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does money act as when expressing the value of goods and services?

Capital investment

Measure of value

Medium of barter

Inflation controller

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the United States, what is the unit of account?

Dollar

Euro

Pound

Yen

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