2154 Test Bank Economics of Money, Banking, and Financial Markets 6th edition.

2154TESTBANKFOREXAM 2020

Ec
onomi
csofMoney,
Bank
ing,
andF
ina
nci
alMa
rke
ts
6t
hedi
ti
on(Mi
shki
n)

ß
tyß
lλç
kđø
ll
ar



Chapt
er3WhatI
sMoney?

3
.1Me
ani
ngofMon
ey

1) Ap er
son'
shous
eispar
tof
her__
____
__.A)mone
y
B)
i
ncomeC)
l
iabi
li
ti
es
D)wealt
h
Answer:
D
Di
ff:1 Typ
e:MC
Ski
ll
:Recal
l
Obje
cti
ve:3.
1Descr
ibewh
atmoneyi
s

2)Moneyi
s_____
___.
A)an
ythi
ngtha
tisgenera
ll
yacce
p t
edi
npa
yme
ntf
org
ood
san
dse
rvi
ces
ori
ntherep
aymentofdebt
B)afl
owofearni
ngsperuni
toft
ime

,C)
thetot
alcoll
ect
ionofpi
ece
sofproper
tythata
reastor
eofv
alu
e
D)
alwaysbasedonap r
eci
ousmet
al l
ik
eg ol
dorsil
ver
Ans
we r
:A
Di
ff
:1 Type:MC
Sk
il
l:Reca
ll
Obj
ecti
ve:3.
1De s
cri
bewhatmone
yi s

3) Toa necon
omist
,___
____
_isany
thi
ngt
hati
sge
n e
ral
l
ya c
cep
ted
i
np ay
me ntf
orgoodsandser
vi
cesori
nther
epay
mentofde
bt.
A)
weal
thB)
i
ncome
C)
moneyD)
cr
edit
Answer:
C
Di
ff:1 Type
:MC
Ski
ll
:Recal
l
Obj
ecti
ve:3.
1De s
cri
bewhatmoneyi
s

4)Curr
e nc
yisdefi
nedas___
___
__.
A)anyt
h i
ngaccept
edforpay
mentofg
ood
san
dse
rvi
ces
B)papermoneyandcoins
C)aunitofacc
ount
D)for
eignexchan
ge
Answer:B

,Di
ff
:1 Type:MC
Sk
il
l:Reca
ll
Obj
ecti
ve:3.
1De
scr
ibewh
atmon
eyi
s

5
) Mon
ey i
s
_
___
___
_.A) t
he
s
amea
scu
rre
ncy
B)anyt
hingthati
sg ener
all
yacce
ptedi
npa
yme
ntofg
ood
sors
erv
ice
s
ori
nther e
pa yme
ntofd ebt
s
C)notuseda saunitofacc
ount
D)defi
neda spapermoney
andcoi
n sAnswer:B
Dif
f:1 Type:MC
Ski
ll
:Recall
Obje
cti
ve:3.1Describ
ewh atmoneyi
s

6
) Cu
rre
ncyi
ncl
ude
s
_
___
___
_.A)p
ape
r
mon
eya
ndc
oin
s
B)p
ape
rmon
ey,
coi
ns,
and
c
hequ
esC)p
ape
rmon
ey
a
ndc
hequ
es
D)papermoney,c
oin
s ,
cheques,
and
sav
ingsdeposi
tsAnswer:
A
Di
ff:
1 Ty p
e:MC
Ski
l
l:Recal
l
Obj
ecti
ve:3.
1De s
cri
bewh atmoneyi
s

7) Th er
eisnos
ingl
epr
eci
seme
asu
reofmon
eyort
hemon
eys
upp
ly
forecon
omis
tsbec
ause
_
_____
__.

, A)thegover
nmentconsi
dersmoneys u
pplyst
ati
sti
cstob econ
fid
ent
ial
andref
usestopubl
ishthe
m
B)deci
dingwhati
sg en
eral
lyaccept
edinpaymentforgoodsand
ser
vice
sorinth
er epay
me ntofde
btisdif
fi
cul
ttode t
ermine
C)economis
tscannotagr
eeifcur
rencyshoul
dbe
consi
dere
dmon eyD)defi
niti
onschan
gea l
lt
hetime
Answer:B
Dif
f:2 Type
:MC
Ski
ll
:Recal
l
Obje
cti
ve:3.
1De s
cri
bewh atmoneyis

8) E venec onomistshavenos i
ngl
e,preci
sedefi
nit
ionof
mon eyb e
caus e______
__.A)mon eysuppl
ystati
st
icsareas t
ate
secret
B)theBa nkofCa nadad oesnotemployorrepor
tdiff
erentmeasur
es
ofthemon eys uppl
yC)t he"moneyness"orl
iqui
dit
yofa nasseti
sa
ma t
terofd e
g ree
D)econ omistsfi
ndd isa
g r
eementint
erest
ingandrefusetoagree
fori
de ol
ogicalreasonsAnswe r
:C
Diff
:2 Ty pe:MC
Skil
l:Recal
l
Ob j
ecti
ve:3.1De sc
r i
bewh atmoneyi
s