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WorksheetsWhat is money?
Total questions: 15
Worksheet time: 8mins
The difference between representative money and fiat money is that
representative money is worth more than fiat money.
fiat money is counted in coins; representative money is counted in paper dollars.
fiat money is more durable than representative money.
representative money is backed by silver or gold, ; fiat money is not.
Which of the following is not a characteristic of money?
Divisibility
Portability
Acceptability
Responsibility
Anything of value
asset
equity
liability
medium of exchange
Which of the following is NOT a function of money?
Store of value
Unit of account
Medium of exchange
Exchange of debt
The fact that a $10 bill received today will still be worth $10 100 years from now is an example of which function of money?
Store of value
Unit of account
Medium of exhange
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
