Money and the Money Supply

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1、MoneyandtheMoneySupply1.Iftherearefivegoodsinabartereconomy,youneedtoknowtenpairsofrelativepricestoknowledgablyexchangeonegoodforanother.If,however,therearetengoodsinabartereconomy,thenthenumberofrelativepricesoneneedstoknowtoknowledgablyexchangeonegoodforanotheris.

2、(a)20.(b)25.(c)30.(d)45.(e)90.2.Onemajordifferencebetweenmoneyandincomeisthat(a)moneyisaflowandincomeisastock.(b)moneyisastockandincomeisaflow.(c)thereisnodifference--moneyandincomearebothstocks.(d)thereisnodifference--moneyandincomearebothflows.3.Moneymosthelpsusav

3、oidtheproblemsassociatedwiththerequirementforexchangethat(a)governmentregulationsareoftenbarrierstocertaintransactions.(b)adoublecoincidenceofwantsmustexist.(c)specializationaccordingtosubdivisionsoflaborcreatealienation.(d)comparativedisadvantagesraiseproductioncos

4、tstounprofitablelevels.4.Fiatmoneyhasvalueprimarilybecauseitis:(a)acceptedasamediumofexchange.(b)verifiedbytheUnitedNations.(c)backedbygoldorsilver.(d)agoodhedgeagainstinflation.(e)heterogeneousandindivisible.5.Themostimportantfunctionofmoneyisitsuseasa:(a)mediumofe

5、xchange.(b)scoringmechanism.(c)coinciderofneeds.(d)storeofvalue.(e)meansofproduction.6.Themostimportantofthemajorfunctionsofmoneyisitsuseasa:(a)storeofvalue.(b)mediumofexchange.(c)standardofdeferredpayment.(d)measureofvalue.7.Ifoureconomyisacar,thenmoneyasamediumexc

6、hangefunctionsmostlike:(a)thesteeringwheel.(b)antifreeze.(c)gasoline.(d)theheadlights.(e)thegearshift.8.AlexaandChandraweredestitutebeforetheyloadedfiveATMmachinesfromthreeshoppingmallsintotheirrentedU-Haultruck,escaped,andbrokethemachinesopen.Theimmediateresultofth

7、eircrimespreeisanincreaseinthe:(a)Keynesianspendingmultiplier.(b)moneysupply.(c)governmentbudgetdeficit.(d)monetarybase.(e)reservesinthebankingsystem.9.Abankrobberwhogetsawaywithalotofcashhasmostimmediatelyanddirectlyincreasedthe:(a)riskinessoffinancialinvestments.(

8、b)expectationsofinflation.(c)potentialmoneymultiplier.(d)liquidityeffect.(e)monetarybase.10.Oneeffectofasuccessfulbankrobberyistoincreaset