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Desirable characteristics for money do not include divisibility portability durability

   Desirable characteristics for money do not include

a.divisibility

b.portability

c.durability

d.not being of uniform quality

e.a stable supply

12.              If a society chooses fiat money as its money form, it

a.must guarantee its convertibility into gold

b.must worry about its liquidity

c.cannot make use of a banking system

d.must worry about controlling its quantity

e.must worry about controlling its demand

13.              Coins and dollar bills are money in the form of

a.barter

b.currency

c.value

d.capital

e.specie

14.              The U.S. dollar bill

a.is fiat money

b.cannot be used as a medium of exchange

c.is backed by gold

d.cannot be used as a store of value

e.cannot be used as a payment for debts

15.              The ease with which an asset can be converted into a medium of exchange is known as

a.volatility

b.liquidity

c.currency

d.Gresham’s Law

e.speculative exchange

16.              Which one of the following assets has the greater liquidity?

a.A $10 pizza

b.A $10 ticket to next week’s basketball game

c.A $100 stereo

d.A dollar bill

e.A $200 U.S. savings bond

17.              Demand deposits are

a.coins and currency

b.the same as time deposits

c.included in M2 and M3 but not M1

d.gold bars in the Federal Reserve System

e.funds in checking accounts

18.              By definition, M1 includes

a.savings accounts

b.money market mutual accounts

c.repurchase agreements

d.small denomination time deposits

e.travelers’ checks

20.              The M2 money supply

a.includes large denomination time deposits which are part of M1

b.excludes checking accounts which are part of M1

c.does not include money market mutual accounts because they are part of M1

d.includes  demand deposits and small denomination time deposits because each is
part of M 1and M2, respectively

e.includes large denomination repurchase agreements which are part of M1

Feb 11 2020 View more View Less

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