Test Bank for Economics of Money, Banking, and Financial Markets 6th edition by Mishkin

CreatednBy:nAnSolution


Test Bank for Economics of Money, Banking, and Financial Markets
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6th edition by Mishkin
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Chaptern3nWhatnIsnMoney?


3.1 MeaningnofnMoney


1) Anperson'snhousenisnpartnofnhern .
A) money
B) income
C) liabilities
D) wealthnAnswer:nD
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


2) Moneynisn .
A)
anythingnthatnisngenerallynacceptedninnpaymentnforngoodsnandnservicesnorninnthenrepaymentn
ofndebt
B) anflownofnearningsnpernunitnofntime
C) thentotalncollectionnofnpiecesnofnpropertynthatnarenanstorenofnvalue
D) alwaysnbasednonnanpreciousnmetalnlikengoldnornsilvernAnswer:nA
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


3) Tonanneconomist,n
isnanythingnthatnisngenerallynacceptedninnpaymentnforngoodsnandnservicesnorninnthenrepaymen
tnofndebt.
A) wealth
B) income
C) money


A+ Pagen1

,CreatednBy:nAnSolution


D) creditnAnswer:nC
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis
4) Currencynisndefinednasn .
A) anythingnacceptednfornpaymentnofngoodsnandnservices
B) papernmoneynandncoins
C) anunitnofnaccount
D) foreignnexchangenAnswer:nB
n


Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis
5) Moneynisn .
A) thensamenasncurrency
B)
anythingnthatnisngenerallynacceptedninnpaymentnofngoodsnornservicesnorninnthenrepaymentnofn
debts
C) notnusednasnanunitnofnaccount
D) definednasnpapernmoneynandncoinsnAnswer:nB
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


6) Currencynincludesn .
A) papernmoneynandncoins
B) papernmoney,ncoins,nandncheques
C) papernmoneynandncheques
D) papernmoney,ncoins,ncheques,nandnsavingsndepositsnAnswer:nA
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


7) Therenisnnonsinglenprecisenmeasurenofnmoneynornthenmoneynsupplynforneconomistsnbecause
.


A+ Pagen2

,CreatednBy:nAnSolution


A)
thengovernmentnconsidersnmoneynsupplynstatisticsntonbenconfidentialnandnrefusesntonpublishn
them
B)
decidingnwhatnisngenerallynacceptedninnpaymentnforngoodsnandnservicesnorninnthenrepaymentn
ofndebtnisndifficultntondetermine
C) economistsncannotnagreenifncurrencynshouldnbenconsiderednmoney
D) definitionsnchangenallnthentimenAnswer:nB
Diff:n2 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


8) Evenneconomistsnhavennonsingle,nprecisendefinitionnofnmoneynbecausen .
A) moneynsupplynstatisticsnarenanstatensecret
B) thenBanknofnCanadandoesnnotnemploynornreportndifferentnmeasuresnofnthenmoneynsupply
C) then"moneyness"nornliquiditynofnannassetnisnanmatternofndegree
D)
economistsnfindndisagreementninterestingnandnrefusentonagreenfornideologicalnreasonsnAnsw
er:nC
Diff:n2 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis
n




n


9) Thentotalncollectionnofnpiecesnofnpropertynthatnserventonstorenvaluenisnanperson'sn .
A) wealth
B) income
C) money
D) creditnAnswer:nA
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis
10) isnusedntonmakenpurchasesnwhilen
isnthentotalncollectionnofnpiecesnofnpropertynthatnserventonstorenvalue.


A+ Pagen3

, CreatednBy:nAnSolution


A) Money;nincome
B) Wealth;nincome
C) Income;nmoney
D) Money;nwealthnAnswer:nD
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


11) isnanflownofnearningsnpernunitnofntime.
A) Income
B) Money
C) Wealth
D) CurrencynAnswer:nA
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


12) Annindividual'snannualnsalarynisnhern .
A) money
B) income
C) wealth
D) liabilitiesnAnswer:nB
Diff:n1 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis
n

13) Whennwensaynthatnmoneynisnanstocknvariable,nwenmeannthatn .
A) thenquantitynofnmoneynisnmeasurednatnangivennpointninntime
B) wenmustnattachnantimenperiodntonthenmeasure
C) itnisnsoldninnthenequitynmarket
D) moneynnevernlosesnpurchasingnpowernAnswer:nA
Diff:n2 Type:nMCnSkill:nRecall
Objective:n3.1nDescribenwhatnmoneynis


14) Thendifferencenbetweennmoneynandnincomenisnthatn .

A+ Pagen4