money and bank test bank chap03

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1、TheEconomicsofMoney,Banking,andFinancialMarkets,9e(Mishkin)Chapter3WhatIsMoney?3.1MeaningofMoney1)Toaneconomist,________isanythingthatisgenerallyacceptedinpaymentforgoodsandservicesorintherepaymentofdebt.A)wealthB)incomeC)moneyD)creditAnswer:CQuesStatus:PreviousEdition2)Mone

2、yisA)anythingthatisgenerallyacceptedinpaymentforgoodsandservicesorintherepaymentofdebt.B)aflowofearningsperunitoftime.C)thetotalcollectionofpiecesofpropertythatareastoreofvalue.D)alwaysbasedonapreciousmetallikegoldorsilver.Answer:AQuesStatus:PreviousEdition3)Currencyincludes

3、A)papermoneyandcoins.B)papermoney,coins,andchecks.C)papermoneyandchecks.D)papermoney,coins,checks,andsavingsdeposits.Answer:AQuesStatus:PreviousEdition4)Eveneconomistshavenosingle,precisedefinitionofmoneybecauseA)moneysupplystatisticsareastatesecret.B)theFederalReservedoesno

4、temployorreportdifferentmeasuresofthemoneysupply.C)the"moneyness"orliquidityofanassetisamatterofdegree.D)economistsfinddisagreementinterestingandrefusetoagreeforideologicalreasons.Answer:CQuesStatus:Revised5)Thetotalcollectionofpiecesofpropertythatservetostorevalueisaperson'

5、sA)wealth.B)income.C)money.D)credit.Answer:AQuesStatus:New196)Aperson'shouseispartofherA)money.B)income.C)liabilities.D)wealth.Answer:DQuesStatus:PreviousEdition7)________isusedtomakepurchaseswhile________isthetotalcollectionofpiecesofpropertythatservetostorevalue.A)Money;in

6、comeB)Wealth;incomeC)Income;moneyD)Money;wealthAnswer:DQuesStatus:PreviousEdition8)________isaflowofearningsperunitoftime.A)IncomeB)MoneyC)WealthD)CurrencyAnswer:AQuesStatus:PreviousEdition9)Anindividual'sannualsalaryisherA)money.B)income.C)wealth.D)liabilities.Answer:BQuesS

7、tatus:PreviousEdition10)Whenwesaythatmoneyisastockvariable,wemeanthatA)thequantityofmoneyismeasuredatagivenpointintime.B)wemustattachatimeperiodtothemeasure.C)itissoldintheequitymarket.D)moneyneverlosespurchasingpower.Answer:AQuesStatus:New11)Thedifferencebetweenmoneyandinco

8、meisthatA)moneyisaflowandincomeisastock.B)moneyisastockandincomeisaflow.C)t