《Sec 29.1 MC The Meaning of Money》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1. Whichofthefollowinglistsisincludedinwhateconomistscall“money”? a. cash b. cashandstocksandbonds c. cashandstocksandbondsandrealestate d. cashandstocksandbondsandrealestateandallotherassetsANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 001.29.1-MC-MANK082. Economistsusetheterm“money”toreferto a. allwealth. b. allassets,includingrealassetsandfinancialassets. c. allfinancialassets,butnotrealassets. d. thosetypesofwealththatareregularlyacceptedbysellersinexchangeforgoodsandservices.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 002.29.1-MC-MANK083. Economistsusetheword"money"toreferto a. incomegeneratedbytheproductionofgoodsandservices. b. thoseassetsregularlyusedtobuygoodsandservices. c. financialassetssuchasstocksandbonds. d. anytypeofwealth.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 003.29.1-MC-MANK084. Economistsequatemoneywith a. individualwealth. b. incomeregularlyearned. c. assetspeopleuseregularlytobuygoodsandservices. d. individualsaving.ANSWER: cDIFFICULTY: EasyCopyrightCengageLearning.PoweredbyCognero.Page 34 REFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 004.29.1-MC-MANK085. Whichofthefollowingisafunctionofmoney? a. aunitofaccount b. astoreofvalue c. mediumofexchange d. Alloftheabovearecorrect.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 005.29.1-MC-MANK086. Theconfidenceyouhavethataretailerwillacceptdollarsinexchangeforgoodsisbasedprimarilyonmoney a. beingaunitofaccount. b. beingamediumofexchange. c. servingasastoreofvalue. d. havingintrinsicvalue.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 006.29.1-MC-MANK087. Youpayforcheeseandbreadfromthedeliwithcurrency.Whichfunctionofmoneydoesthisbestillustrate? a. mediumofexchange b. unitofaccount c. storeofvalue d. liquidityANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 007.29.1-MC-MANK08CopyrightCengageLearning.PoweredbyCognero.Page 34 8. Youreceivemoneyaspaymentforbabysittingyourneighbors'children.Thisbestillustrateswhichfunctionofmoney? a. mediumofexchange b. unitofaccount c. storeofvalue d. liquidityANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 008.29.1-MC-MANK089. Whichofthefollowingbestillustratesthemediumofexchangefunctionofmoney? a. Youkeepsomemoneyhiddeninyourshoe. b. Youkeeptrackofthevalueofyourassetsintermsofcurrency. c. Youpayforyouroilchangeusingcurrency. d. Noneoftheaboveiscorrect.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 009.29.1-MC-MANK0810. Anyitemthatpeoplecanusetotransferpurchasingpowerfromthepresenttothefutureiscalled a. amediumofexchange. b. aunitofaccount. c. astoreofvalue. d. Noneoftheaboveiscorrect.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 010.29.1-MC-MANK0811. Dollarbills,rarepaintings,andemeraldnecklacesareall a. mediaofexchange. b. unitsofaccount.CopyrightCengageLearning.PoweredbyCognero.Page 34 c. storesofvalue. d. Alloftheabovearecorrect.ANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 011.29.1-MC-MANK0812. Whichofthefollowingisastoreofvalue? a. cashandstocks b. cashbutnotstocks c. stocksbutnotcash d. neithercashnorstocksANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 012.29.1-MC-MANK0813. Whichofthefollowingisastoreofvalue? a. currency b. U.S.governmentbonds c. fineart d. Alloftheabovearecorrect.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 013.29.1-MC-MANK0814. Whichofthefollowingbestillustratestheconceptofastoreofvalue? a. Youareaprecious-metalsdealer,andyouarealwaysawareofhowmanyouncesofplatinumtradeforanounceofgold. b. YousellitemsoneBay,andyourpricesarestatedintermsofdollars. c. Youkeep6ouncesofgoldinyoursafe-depositboxatthebankforemergencies. d. Noneoftheaboveiscorrect.ANSWER: cCopyrightCengageLearning.PoweredbyCognero.Page 34 DIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 014.29.1-MC-MANK0815. Miaputsmoneyintoapiggybanksoshecanspenditlater.Whatfunctionofmoneydoesthisillustrate? a. storeofvalue b. mediumofexchange c. unitofaccount d. Noneoftheaboveiscorrect.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 015.29.1-MC-MANK0816. Mostfinancialassetsotherthanmoneyfunctionas a. amediumofexchange,aunitofaccount,andastoreofvalue. b. amediumofexchangeandastoreofvalue,butnotaunitofaccount. c. astoreofvalueandaunitofaccount,butnotamediumofexchange. d. astoreofvalue,butnotaunitofaccountnoramediumofexchangeANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 016.29.1-MC-MANK0817. Whichofthefollowingfunctionsofmoneyisalsoacommonfunctionofmostotherfinancialassets? a. aunitofaccount b. astoreofvalue c. mediumofexchange d. Noneoftheaboveiscorrect.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCopyrightCengageLearning.PoweredbyCognero.Page 34 CUSTOM ID: 017.29.1-MC-MANK0818. Liquidityrefersto a. theeasewithwhichanassetisconvertedtothemediumofexchange. b. themeasurementoftheintrinsicvalueofcommoditymoney. c. themeasurementofthedurabilityofagood. d. howmanytimeadollarcirculatesinagivenyear.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 018.29.1-MC-MANK0819. Theeasewithwhichanassetcanbe a. tradedforanotherassetdetermineswhetherornotthatassetisaunitofaccount. b. transportedfromoneplacetoanotherdetermineswhetherornotthatassetcouldserveasfiatmoney. c. convertedintoastoreofvaluedeterminestheliquidityofthatasset. d. convertedintotheeconomy’smediumofexchangedeterminestheliquidityofthatasset.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 019.29.1-MC-MANK0820. Whichlistranksassetsfrommosttoleastliquid? a. currency,fineart,stocks b. currency,stocks,fineart c. fineart,currency,stocks d. fineart,stocks,currencyANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.179-Givenalistofassets,ordertheassetsfrommostliquidtoleastliquid.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 020.29.1-MC-MANK0821. Whichlistranksassetsfrommosttoleastliquid? a. money,bonds,cars,housesCopyrightCengageLearning.PoweredbyCognero.Page 34 b. money,cars,houses,bonds c. bonds,money,cars,houses d. bonds,cars,money,housesANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.179-Givenalistofassets,ordertheassetsfrommostliquidtoleastliquid.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 021.29.1-MC-MANK0822. Moneyisthemostliquidassetavailablebecause a. itisastoreofvalue. b. itisamediumofexchange. c. itisaunitofaccount. d. ithasintrinsicvalue.ANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 022.29.1-MC-MANK0823. Moneyis a. themostliquidassetandaperfectstoreofvalue. b. themostliquidassetbutanimperfectstoreofvalue. c. notthemostliquidassetbutaperfectstoreofvalue. d. neitherthemostliquidassetandnoraperfectstoreofvalue.ANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 023.29.1-MC-MANK0824. Money a. isaperfectstoreofvalue. b. isthemostliquidasset. c. hasintrinsicvalue,regardlessofwhichformittakes. d. Alloftheabovearecorrect.CopyrightCengageLearning.PoweredbyCognero.Page 34 ANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 024.29.1-MC-MANK0825. TreasuryBondsare a. liquid,butnotastoreofvalue. b. astoreofvalue,butnotliquid. c. bothliquidandastoreofvalue. d. neitherliquidnorastoreofvalue.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 025.29.1-MC-MANK0826. TreasuryBondsare a. bothastoreofvalueandamediumofexchange. b. astoreofvalue,butnotamediumofexchange c. amediumofexchange,butnotastoreofvalue. d. neitherastoreofvaluenoramediumofexchange.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 026.29.1-MC-MANK0827. Whichofthefollowingisbothastoreofvalueandregularlyusedasamediumofexchange? a. cashandstocks b. cashbutnotstocks c. stocksbutnotcash d. neithercashnorstocksANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCopyrightCengageLearning.PoweredbyCognero.Page 34 CUSTOM ID: 027.29.1-MC-MANK0828. Whenwemeasureandrecordeconomicvalue,weusemoneyasthe a. liquidasset. b. mediumofexchange. c. unitofaccount. d. storeofvalue.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 028.29.1-MC-MANK0829. WheninFranceyounoticethatpricesarepostedineuros,thisbestillustratesmoney’sfunctionas a. astoreofvalue. b. amediumofexchange. c. aunitofaccount. d. amethodofbarter.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 029.29.1-MC-MANK0830. Whichofthefollowingbestillustratestheunitofaccountfunctionofmoney? a. YoulistpricesforcandysoldonyourWebsite,www.sweettooth.com,indollars. b. Youpayforyourtheaterticketswithdollars. c. Youholdcurrencyeventhoughyoudon’tintendtospenditrightaway. d. Noneoftheaboveiscorrect.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 030.29.1-MC-MANK0831. The“yardstick”peopleusetopostpricesandrecorddebtsiscalled a. amediumofexchange.CopyrightCengageLearning.PoweredbyCognero.Page 34 b. aunitofaccount. c. astoreofvalue. d. liquidity.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 031.29.1-MC-MANK0832. Yousaved$500incurrencyinyourpiggybanktopurchaseanewlaptop.The$500youkeptinyourpiggybankillustratesmoney’sfunctionasa_______.Thelaptop’spriceispostedas$500.The$500priceillustratesmoney’sfunctionasa_____.Youusethe$500topurchasethelaptop.Thistransactionillustratesmoney’sfunctionasa______. a. storeofvalue,mediumofexchange,unitofaccount b. storeofvalue,unitofaccount,mediumofexchange c. mediumofexchange,unitofaccount,storeofvalue d. mediumofexchange,storeofvalue,unitofaccountANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 032.29.1-MC-MANK0833. Imagineaneconomyinwhich:(1)piecesofpapercalledyollarsaretheonlythingthatbuyersgivetosellerswhentheybuygoodsandservices,soitwouldbecommontouse,say,50yollarstobuyapairofshoes;(2)pricesarepostedintermsofyardsticks,soyoumightwalkintoagrocerystoreandseethat,today,anappleisworth2yardsticks;and(3)yardsticksdisintegrateovernight,sonoyardstickhasanyvalueformorethan24hours.Inthiseconomy, a. theyardstickisamediumofexchangebutitcannotserveasaunitofaccount. b. theyardstickisaunitofaccountbutitcannotserveasastoreofvalue. c. theyardstickisamediumofexchangebutitcannotserveasastoreofvalue,andtheyollarisaunitofaccount. d. theyollarisaunitofaccount,butitisnotamediumofexchangeanditisnotaliquidasset.ANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 033.29.1-MC-MANK0834. CommoditymoneyisCopyrightCengageLearning.PoweredbyCognero.Page 34 a. backedbygold. b. theprincipaltypeofmoneyinusetoday. c. moneywithintrinsicvalue. d. receiptscreatedininternationaltradethatareusedasamediumofexchange.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 034.29.1-MC-MANK0835. Prisonerssometimesdetermineasinglegoodtobeusedasmoney.Thisgoodbecomes a. amediumofexchangeandaunitofaccount. b. amediumofexchange,butnotaunitofaccount. c. aunitofaccount,butnotamediumofexchange. d. neitheraunitofaccountnoramediumofexchange.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 035.29.1-MC-MANK0836. WhencolonistsinVirginiausedtobaccoasmoney,theirmoney a. wascommoditymoney. b. hadnointrinsicvalue. c. wasfiatmoney. d. hadnostoreofvalue.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 036.29.1-MC-MANK0837. Ifaneconomyusessilverasmoney,thenthateconomy’smoney a. servesasastoreofvaluebutnotasamediumofexchange. b. servesasamediumofexchangebutnotasaunitofaccount. c. iscommoditymoney. d. hasnointrinsicvalue.ANSWER: cCopyrightCengageLearning.PoweredbyCognero.Page 34 DIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 037.29.1-MC-MANK0838. Manysocietiesusedgoldasmoney,because a. itisrelativelyrare. b. itisdurable. c. ithasarelativelylowmeltingpoint. d. Alloftheabovearecorrect.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 038.29.1-MC-MANK0839. Accordingtothearticle“WhyGold?’,silvermaybeusedasmoney.Oneproblemwithusingsilverasmoneyisthat a. silveristooabundant. b. silvertarnishesovertime. c. itisnotapreciousmetal. d. ithasahighmeltingpoint.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 039.29.1-MC-MANK0840. Fiatmoney a. hasnointrinsicvalue. b. isbackedbygold. c. isamediumofexchangebutnotaunitofaccount. d. isanyclosesubstituteforcurrencysuchascheckabledeposits.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyCopyrightCengageLearning.PoweredbyCognero.Page 34 KEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 040.29.1-MC-MANK0841. Fiatmoney a. isworthless. b. hasnointrinsicvalue. c. maybeusedasamediumofexchange,butisnotlegaltender. d. referstohighlyliquidassetsthatdonotserveasamediumofexchange.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 041.29.1-MC-MANK0842. Currently,U.S.currencyis a. fiatmoneywithintrinsicvalue. b. fiatmoneywithnointrinsicvalue. c. commoditymoneywithintrinsicvalue. d. commoditymoneywithnointrinsicvalue.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 042.29.1-MC-MANK0843. AllU.S.paperdollarsread“Thisnoteislegaltenderforalldebts,publicandprivate.”ThisstatementrepresentswhichcharacteristicofUScurrency? a. TheU.S.operatesunderthegoldstandard. b. U.S.papermoneyiscommoditymoney. c. U.S.papermoneyisfiatmoney. d. U.S.papermoneyisaconvenientstoreofwealth.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 043.29.1-MC-MANK0844. ThelegaltenderrequirementmeansthatCopyrightCengageLearning.PoweredbyCognero.Page 34 a. peoplearemorelikelytoacceptthedollarasamediumofexchange. b. thegovernmentmustholdenoughgoldtoredeemallcurrency. c. peoplemaynotmaketradeswithanythingelse. d. Alloftheabovearecorrect.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 044.29.1-MC-MANK0845. TheSovietgovernmentinthe1980’sneverabandonedtherubleastheofficialcurrency.However,thepeopleofMoscowpreferredtoaccept a. cigarettesinexchangeforgoodsandservices,becausetheywereconvincedthatcigarettesweregoingtosoonbecomehardtocomeby. b. Americandollarsinexchangeforgoodsandservices,becauserubleswereextremelyhardtocomeby. c. goodssuchascigarettesorAmericandollarsinexchangeforgoodsandservices,remindingusofthefactthatgovernmentdecreebyitselfisnotsufficientforthesuccessofacommoditymoney. d. Alloftheabovearecorrect.ANSWER: cDIFFICULTY: ChallengingREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 045.29.1-MC-MANK0846. Theprimarydifferencebetweencommoditymoneyandfiatmoneyisthat a. commoditymoneyisamediumofexchangebutfiatmoneyisnot. b. fiatmoneyisamediumofexchangebutcommoditymoneyisnot. c. commoditymoneyhasintrinsicvaluebutfiatmoneydoesnot. d. fiatmoneyhasintrinsicvaluebutcommoditymoneydoesnot.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 046.29.1-MC-MANK0847. Whichtypeofmoneyhasintrinsicvalue? a. commoditymoney b. fiatmoney c. bothcommoditymoneyandfiatmoney d. neithercommoditymoneynorfiatmoneyCopyrightCengageLearning.PoweredbyCognero.Page 34 ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 047.29.1-MC-MANK0848. Ifaneconomyusedgoldasmoney,itsmoneywouldbe a. commoditymoney,butnotfiatmoney. b. fiatmoney,butnotcommoditymoney. c. bothfiatandcommoditymoney. d. functioningasastoreofvalueandasaunitofaccount,butnotasamediumofexchange.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 048.29.1-MC-MANK0849. Whenprisonersusecigarettesorsomeothergoodasmoney,cigarettesbecome a. commoditymoney,butdonotfunctionasaunitofaccount. b. commoditymoneyandfunctionasaunitofaccount. c. fiatmoney,butdonotfunctionasaunitofaccount. d. fiatmoneyandfunctionasaunitofaccount.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 049.29.1-MC-MANK0850. Papermoney a. hasahighintrinsicvalue. b. istheprimarymediumofexchangeinabartereconomy. c. isvaluablebecauseitisgenerallyacceptedintrade. d. isvaluableonlybecauseofthelegaltenderrequirement.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.CopyrightCengageLearning.PoweredbyCognero.Page 34 TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 050.29.1-MC-MANK0851. Paperdollars a. arecommoditymoneyandgoldcoinsarefiatmoney. b. arefiatmoneyandgoldcoinsarecommoditymoney. c. andgoldcoinsarebothcommoditymonies. d. andgoldcoinsarebothfiatmonies.ANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 051.29.1-MC-MANK0852. Forpurposesofanalyzingthemoneystockanditsrelationshiptorelevanteconomicvariables,moneyisbestthoughtofas a. thoseitemsthatcanbereadilyaccessedandusedtobuygoodsandservices. b. currencyonly. c. currencyplusallbankaccounts. d. currencyplusallbankaccountsplusbonds.ANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 052.29.1-MC-MANK0853. Currencyincludes a. paperbillsandcoins. b. demanddeposits. c. creditcards. d. Both(a)and(b)arecorrect.ANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 053.29.1-MC-MANK0854. ThesetofitemsthatserveasmediaofexchangeclearlyincludesCopyrightCengageLearning.PoweredbyCognero.Page 34 a. balancesthatliebehinddebitcards. b. demanddeposits. c. othercheckabledeposits. d. Alloftheabovearecorrect.ANSWER: dDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 054.29.1-MC-MANK0855. Thesetofitemsthatserveasmediaofexchangeclearlyincludes a. demanddeposits. b. short-termbonds. c. creditcards. d. Alloftheabovearecorrect.ANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.226-Givenascenario,identifywhichroleofmoneyisbeingexploited.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 055.29.1-MC-MANK0856. Demanddepositsareatypeof a. checkingaccount. b. timedeposit. c. moneymarketmutualfund. d. savingsdeposit.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 056.29.1-MC-MANK0857. Peoplecanwritechecksagainst a. demanddepositsandmoneymarketmutualfunds b. demanddepositsbutnotmoneymarketmutualfunds c. moneymarketmutualfundsbutnotdemanddepositsCopyrightCengageLearning.PoweredbyCognero.Page 34 d. neitherdemanddepositsnormoneymarketmutualfundsANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 057.29.1-MC-MANK0858. Whichlistranksassetsfrommosttoleastliquid? a. currency,demanddeposits,moneymarketmutualfunds b. currency,moneymarketmutualfunds,demanddeposits c. moneymarketmutualfunds,demanddeposits,currency d. demanddeposits,moneymarketmutualfunds,currencyANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.179-Givenalistofassets,ordertheassetsfrommostliquidtoleastliquid.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 058.29.1-MC-MANK0859. ThemeasureofthemoneystockcalledM1includes a. wealthheldbypeopleintheircheckingaccounts. b. wealthheldbypeopleintheirsavingsaccounts. c. wealthheldbypeopleinmoneymarketmutualfunds. d. everythingthatisincludedinM2plussomeadditionalitems.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 059.29.1-MC-MANK0860. M1equalscurrencyplusdemanddepositsplus a. nothingelse. b. othercheckabledeposits. c. traveler'schecksplusothercheckabledeposits. d. traveler'schecksplusothercheckabledepositsplussavingsdeposits.ANSWER: cDIFFICULTY: EasyCopyrightCengageLearning.PoweredbyCognero.Page 34 REFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 060.29.1-MC-MANK0861. M1includes a. currency. b. demanddeposits. c. traveler'schecks. d. Alloftheabovearecorrect.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 061.29.1-MC-MANK0862. M1includes a. smalltimedeposits. b. savingsdeposits. c. othercheckabledeposits. d. moneymarketmutualfunds.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 062.29.1-MC-MANK0863. InmeasuringthestockofmoneyintheU.S.,M1includes a. traveler’schecks. b. savingsdeposits. c. creditcards d. noneoftheabove.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2CopyrightCengageLearning.PoweredbyCognero.Page 34 definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 063.29.1-MC-MANK0864. WhichofthefollowingisnotincludedinM1? a. currency b. demanddeposits c. savingsdeposits d. traveler'schecksANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 064.29.1-MC-MANK0865. WhichofthefollowingisnotincludedinM1? a. currency b. demanddeposits c. traveler’schecks d. creditcardsANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 065.29.1-MC-MANK0866. WhichofthefollowingisnotincludedinM1? a. a$5billinyourwallet b. $100inyourcheckingaccount c. $500inyoursavingsaccount d. AlloftheaboveareincludedinM1.ANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyCopyrightCengageLearning.PoweredbyCognero.Page 34 MoneysupplyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 066.29.1-MC-MANK0867. Whichofthefollowingitemsisnotincludedinthemostnarrowdefinitionofmoney,M1? a. currency b. savingsdeposits c. traveler’schecks d. demanddepositsANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 067.29.1-MC-MANK0868. WhichofthefollowingitemsisincludedinM2? a. creditcards b. moneymarketmutualfunds c. corporatebonds d. largetimedepositsANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 068.29.1-MC-MANK0869. Whichofthefollowingstatementsiscorrect? a. AllitemsthatareincludedinM1areincludedalsoinM2. b. AllitemsthatareincludedinM2areincludedalsoinM1. c. CreditcardsareincludedinbothM1andM2. d. SavingsdepositsareincludedinbothM1andM2.ANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCopyrightCengageLearning.PoweredbyCognero.Page 34 CUSTOM ID: 069.29.1-MC-MANK0870. WhichofthefollowingisincludedinbothM1andM2? a. savingsdeposits b. demanddeposits c. smalltimedeposits d. moneymarketmutualfundsANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 070.29.1-MC-MANK0871. WhichofthefollowingisnotincludedineitherM1orM2? a. U.S.Treasurybills b. smalltimedeposits c. demanddeposits d. moneymarketmutualfundsANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 071.29.1-MC-MANK0872. WhichofthefollowingisnotincludedineitherM1orM2? a. moneymarketdepositaccounts b. largetimedeposit c. demanddeposits d. moneymarketmutualfundsANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 072.29.1-MC-MANK08CopyrightCengageLearning.PoweredbyCognero.Page 34 73. Moneymarketmutualfundsareincludedin a. M1butnotM2. b. M1andM2. c. M2butnotM1. d. neitherM1norM2.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 073.29.1-MC-MANK0874. Demanddepositsareincludedin a. M1butnotM2. b. M2butnotM1. c. M1andM2. d. neitherM1norM2.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 074.29.1-MC-MANK0875. WhichofthefollowingisincludedinbothM1andM2? a. currency b. demanddeposits c. othercheckabledeposits d. Alloftheabovearecorrect.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 075.29.1-MC-MANK0876. WhichofthefollowingisincludedinM2butnotinM1? a. currencyCopyrightCengageLearning.PoweredbyCognero.Page 34 b. demanddeposits c. savingsdeposits d. AlloftheaboveareincludedinbothM1andM2.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 076.29.1-MC-MANK0877. WhichofthefollowingisincludedinM2butnotinM1? a. demanddeposits b. corporatebonds c. largetimedeposits d. moneymarketmutualfundsANSWER: dDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 077.29.1-MC-MANK0878. WhichofthefollowingisincludedinM1andM2? a. traveler’schecks b. savingsdeposits c. moneymarketmutualfunds d. smalltimedepositsANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 078.29.1-MC-MANK0879. Traveler'schecksareincludedin a. M1butnotM2. b. M2butnotM1. c. M1andM2.CopyrightCengageLearning.PoweredbyCognero.Page 34 d. neitherM1norM2.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 079.29.1-MC-MANK0880. Savingsdepositsareincludedin a. M1butnotM2. b. M2butnotM1. c. M1andM2. d. neitherM1norM2.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 080.29.1-MC-MANK0881. Smalltimedepositsareincludedin a. M1butnotM2. b. M2butnotM1. c. M1andM2. d. neitherM1norM2.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 081.29.1-MC-MANK0882. Iftraveler’scheckswere$1000higherandsavingdepositswere$500higher,M1wouldbe a. $500higherandM2wouldbe$1,500higher. b. $1,000higherandM2wouldbe$1,500higher. c. M2andM1wouldbe$1,500higher. d. $1,000highandM2wouldbe$500higher.ANSWER: bCopyrightCengageLearning.PoweredbyCognero.Page 34 DIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 082.29.1-MC-MANK0883. JohnandJanedecidetogoonavacation.Asaresult,theywithdraw$2,500fromtheirsavingsaccounttopurchase$2,500worthoftraveler’schecks.Asaresultofthesechanges, a. M1increasesby$2,500andM2decreasesby$2,500. b. M1increasesby$2,500andM2staysthesame. c. M1andM2staythesame. d. M1decreasesby$2,500andM2increasesby$2,500.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 083.29.1-MC-MANK0884. Derekdecidestoforegoamajorappliancepurchaseandsavethemoney.Hetransfers$2,100fromhischeckingaccounttohismoneymarketmutualfund.Asaresultofthistransfer, a. bothM1andM2decreaseby$2,100. b. M1increasesby$2,100andM2increasesby$2,100. c. M1decreasesby$2,100andM2increasesby$2,100. d. M1decreasesby$2,100andM2staysthesame.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 084.29.1-MC-MANK0885. Jimtransfersmoneyfromhismoneymarketaccounttohissavingsaccount.Thisaction a. reducedM1andincreasesM2. b. increasesM1andreducesM2. c. hasnoeffectonM1orM2. d. increasesM1andM2.ANSWER: cCopyrightCengageLearning.PoweredbyCognero.Page 34 DIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 085.29.1-MC-MANK0886. Creditcardlimitsareincludedin a. M1butnotM2. b. M2butnotM1. c. M1andM2. d. neitherM1norM2.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 086.29.1-MC-MANK0887. Creditcards a. deferpayments. b. areastoreofvalue. c. haveledtowideruseofcurrency. d. arepartofthemoneysupply.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 087.29.1-MC-MANK0888. Creditcardsare a. amediumofexchange. b. countedaspartofM2butnotaspartofM1. c. importantforanalyzingthemonetarysystem. d. Alloftheabovearecorrect.ANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyCopyrightCengageLearning.PoweredbyCognero.Page 34 LEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 088.29.1-MC-MANK0889. Creditcards a. representthelargestcomponentofM1. b. arenotincludedinM1butareincludedinM2. c. areaformofmoneyuniquetotheU.S. d. arenotconsideredmoney.ANSWER: dDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 089.29.1-MC-MANK0890. Whichofthefollowingdeferpayments? a. creditcardsanddebitcards b. neithercreditcardsnordebitcards c. creditcardsbutnotdebitcards d. debitcardsbutnotcreditcardsANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 090.29.1-MC-MANK08Table29-1.Theinformationinthetablepertainstoanimaginaryeconomy.AssetAmountSmalltimedeposits$750billionLargetimedeposits$1,500billionDemanddeposits$480billionOthercheckabledeposits$350billionSavingsdeposits$4,700billionTraveler'schecks$15billionMoneymarketmutualfunds$910billionCurrency$1,070billionMinorcategoriesofM2$40billion91. RefertoTable29-1.WhatisthevalueofM1inbillionsofdollars? a. $1,915billion b. $1,900billion c. $2,665billion d. $2,825billionCopyrightCengageLearning.PoweredbyCognero.Page 34 ANSWER: aDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 091.29.1-MC-MANK0892. RefertoTable29-1.WhatisthevalueofM2inbillionsofdollars? a. $9,815billion b. $8,315billion c. $7,565billion d. $7,405billionANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 092.29.1-MC-MANK08Table29-2.Theinformationinthetablepertainstoanimaginaryeconomy.TypeofMoneyAmountLargetimedeposits$120billionSmalltimedeposits$80billionDemanddeposits$300billionOthercheckabledeposits$50billionSavingsdeposits$65billionTraveler'schecks$5billionMoneymarketmutualfunds$200billionCurrency$150billionCreditcardbalances$300billionMiscellaneouscategoriesofM2$30billion93. RefertoTable29-2.WhatistheM1moneysupply? a. $705billion b. $570billion c. $505billion d. $585billionANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.CopyrightCengageLearning.PoweredbyCognero.Page 34 TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 093.29.1-MC-MANK0894. RefertoTable29-2.WhatistheM2moneysupply? a. $1,300billion b. $580billion c. $880billion d. $1,000billionANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 094.29.1-MC-MANK0895. Giventhefollowinginformation,whatarethevaluesofM1andM2?Smalltimedeposits$600billionDemanddepositsandothercheckabledeposits$400billionSavingsdeposits$800billionMoneymarketmutualfunds$700billionTraveler'schecks$30billionLargetimedeposits$400billionCurrency$250billionMiscellaneouscategoriesinM2$20billion a. M1=$650billion,M2=$2,830billion. b. M1=$400billion,M2=$3,080billion. c. M1=$680billion,M2=$2,800billion. d. M1=$680billion,M2=$3,200billion.ANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 095.29.1-MC-MANK0896. Giventhefollowinginformation,whatarethevaluesofM1andM2?Smalltimedeposits$2,200billionDemanddepositsandothercheckabledeposits$1,700billionSavingsdeposits$2,600billionMoneymarketmutualfunds$1,500billionTraveler'schecks$60billionCopyrightCengageLearning.PoweredbyCognero.Page 34 Largetimedeposits$1,500billionCurrency$350billionMiscellaneouscategoriesinM2$75billion a. M1=$4,310billion,M2=$6,285billion. b. M1=$2,050billion,M2=$9,985billion. c. M1=$2,110billion,M2=$8,485billion. d. M1=$3,610billion,M2=$9,985billion.ANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 096.29.1-MC-MANK0897. Giventhefollowinginformation,whatarethevaluesofM1andM2?Smalltimedeposits$1,800billionDemanddepositsandothercheckabledeposits$1,000billionSavingsdeposits$1,400billionMoneymarketmutualfunds$1,000billionTraveler'schecks$50billionLargetimedeposits$600billionCurrency$300billionMiscellaneouscategoriesinM2$50billion a. M1=$3,150billion,M2=$6,200billion. b. M1=$1,350billion,M2=$5,600billion. c. M1=$1,400billion,M2=$6,200billion. d. M1=$1,300billion,M2=$5,600billion.ANSWER: bDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.059-DetermineifamonetaryexampleispartoftheM1orM2definitionsofmoney.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 097.29.1-MC-MANK0898. OnesurprisingthingabouttheU.S.moneystockisthat a. banksholdsomuchcurrencyrelativetothepublic. b. thepublicholdssomuchcurrencyrelativetobanks. c. thereissolittlecurrencyperperson. d. thereissomuchcurrencyperperson.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyCopyrightCengageLearning.PoweredbyCognero.Page 34 LEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 098.29.1-MC-MANK0899. TheamountofcurrencyperpersonintheUnitedStatesisabout a. $110. b. $300. c. $2,450. d. $4,490.ANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 099.29.1-MC-MANK08100. IntheU.S.,theaverageadultholdsabout$4,490in a. currency. b. wealth. c. M1. d. M2.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 100.29.1-MC-MANK08101. WhichofthefollowingmightexplainwhytheUnitedStateshassomuchcurrencyperperson? a. U.S.citizensareholdingalotofforeigncurrency. b. Currencymaybeapreferablestoreofwealthforcriminals. c. Peopleusecreditanddebitcardsmorefrequently. d. Alloftheabovehelpexplaintheabundanceofcurrency.ANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 101.29.1-MC-MANK08CopyrightCengageLearning.PoweredbyCognero.Page 34 102. IntheUnitedStates,currencyholdingsperpersonaverageabout a. $110;oneexplanationforthisrelativelysmallaverageisthatmanypeopleusecreditanddebitcardstomaketransactions. b. $110;oneexplanationforthisrelativelysmallaverageisthatU.S.citizensholdalotofforeigncurrency. c. $4,490;oneexplanationforthisrelativelylargeamountisthatcriminalsprobablyprefercurrencyasamediumofexchange. d. $4,490;oneexplanationforthisrelativelylargeaverageisthatU.S.citizensholdalotofforeigncurrency.ANSWER: cDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 102.29.1-MC-MANK08103. WhichofthefollowingisNOTrequiredforpaperdollarstoworkasamediumofexchange? a. Anestablishedandregulatedsystemoffiatmoney b. Intrinsicvaluebackedbygold c. Governmentprosecutionofcounterfeiters d. AcceptanceaspartofsocialconventionANSWER: bDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 103.29.1-MC-MANK08104. Whenpricesrise, a. realestateisabetterunitofaccountthanmoney. b. moneyisaworsemediumofexchangethanrealestate. c. moneyisabetterstoreofvaluethanrealestate. d. realestateisabetterstoreofvaluethanmoney.ANSWER: dDIFFICULTY: ModerateREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyLiquidityKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 104.29.1-MC-MANK08105. Creditcards a. areamethodofdeferringpayment,andpeoplewhohavecreditcardsholdlessmoneyonaverage. b. areamethodofdeferringpayment,and peoplewhohavecreditcardsholdmoremoneyonaverage.CopyrightCengageLearning.PoweredbyCognero.Page 34 c. areamediumofexchange,and peoplewhohavecreditcardsholdlessmoneyonaverage. d. areamediumofexchange, andpeoplewhohavecreditcardsholdmoremoneyonaverage.ANSWER: aDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 105.29.1-MC-MANK08106. Whichofthefollowingisanexampleofcommoditymoney? a. Rarebaseballcards b. Euros c. Stocks d. ThegoldstandardANSWER: dDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.292-Identifyanexampleofmoneyascommoditymoneyorfiatmoney.TOPICS: MoneyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 106.29.1-MC-MANK08107. Themoneystockintheeconomyis a. theamountofwealthaccumulatingintheeconomy,suchascurrencyanddemanddeposits. b. theamountofwealthaccumulatingintheeconomy,suchasmoneymarketmutualfundsandstocks. c. thequantityofmoneycirculatingintheeconomy,suchascurrencyanddemanddeposits. d. thequantityofmoneycirculatingintheeconomy,suchasmoneymarketmutualfundsandstocks.ANSWER: cDIFFICULTY: EasyREFERENCES: TheMeaningofMoneyLEARNING OBJECTIVES: ECON.MANK.101-Examinetheroleofmonetarypolicyingoverninganeconomy.TOPICS: MoneyMoneysupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 107.29.1-MC-MANK08CopyrightCengageLearning.PoweredbyCognero.Page 34
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