Test Bank For Economics 8th Edition All Chapters - 9780136713951.pdf

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Test Bank for Economics of Money, Banking, and Financial Markets
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6th edition by Mishkin
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Chapterh3hWhathIshMoney?


3.1 MeaninghofhMoney


1) Ahperson'shhousehishparthofhherh .
A) money
B) income
C) liabilities
D) wealthhAnswer:hD
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


2) Moneyhish .
A)
anythinghthathishgenerallyhacceptedhinhpaymenthforhgoodshandhserviceshorhinhthehrepaymenth
ofhdebt
B) ahflowhofhearningshperhunithofhtime
C) thehtotalhcollectionhofhpieceshofhpropertyhthatharehahstorehofhvalue
D) alwayshbasedhonhahprecioushmetalhlikehgoldhorhsilverhAnswer:hA
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


3) Tohanheconomist,h
ishanythinghthathishgenerallyhacceptedhinhpaymenthforhgoodshandhserviceshorhinhthehrepaymen
thofhdebt.
A) wealth
B) income
C) money


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D) credithAnswer:hC
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis
4) Currencyhishdefinedhash .
A) anythinghacceptedhforhpaymenthofhgoodshandhservices
B) paperhmoneyhandhcoins
C) ahunithofhaccount
D) foreignhexchangehAnswer:hB
h


Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis
5) Moneyhish .
A) thehsamehashcurrency
B)
anythinghthathishgenerallyhacceptedhinhpaymenthofhgoodshorhserviceshorhinhthehrepaymenthofh
debts
C) nothusedhashahunithofhaccount
D) definedhashpaperhmoneyhandhcoinshAnswer:hB
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


6) Currencyhincludesh .
A) paperhmoneyhandhcoins
B) paperhmoney,hcoins,handhcheques
C) paperhmoneyhandhcheques
D) paperhmoney,hcoins,hcheques,handhsavingshdepositshAnswer:hA
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


7) Therehishnohsinglehprecisehmeasurehofhmoneyhorhthehmoneyhsupplyhforheconomistshbecause
.


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A)
thehgovernmenthconsidershmoneyhsupplyhstatisticshtohbehconfidentialhandhrefuseshtohpublishh
them
B)
decidinghwhathishgenerallyhacceptedhinhpaymenthforhgoodshandhserviceshorhinhthehrepaymenth
ofhdebthishdifficulthtohdetermine
C) economistshcannothagreehifhcurrencyhshouldhbehconsideredhmoney
D) definitionshchangehallhthehtimehAnswer:hB
Diff:h2 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


8) Evenheconomistshhavehnohsingle,hprecisehdefinitionhofhmoneyhbecauseh .
A) moneyhsupplyhstatisticsharehahstatehsecret
B) thehBankhofhCanadahdoeshnothemployhorhreporthdifferenthmeasureshofhthehmoneyhsupply
C) theh"moneyness"horhliquidityhofhanhassethishahmatterhofhdegree
D)
economistshfindhdisagreementhinterestinghandhrefusehtohagreehforhideologicalhreasonshAnsw
er:hC
Diff:h2 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis
h




h


9) Thehtotalhcollectionhofhpieceshofhpropertyhthathservehtohstorehvaluehishahperson'sh .
A) wealth
B) income
C) money
D) credithAnswer:hA
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis
10) ishusedhtohmakehpurchaseshwhileh
ishthehtotalhcollectionhofhpieceshofhpropertyhthathservehtohstorehvalue.


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A) Money;hincome
B) Wealth;hincome
C) Income;hmoney
D) Money;hwealthhAnswer:hD
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


11) ishahflowhofhearningshperhunithofhtime.
A) Income
B) Money
C) Wealth
D) CurrencyhAnswer:hA
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


12) Anhindividual'shannualhsalaryhishherh .
A) money
B) income
C) wealth
D) liabilitieshAnswer:hB
Diff:h1 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis
h


13) Whenhwehsayhthathmoneyhishahstockhvariable,hwehmeanhthath .
A) thehquantityhofhmoneyhishmeasuredhathahgivenhpointhinhtime
B) wehmusthattachhahtimehperiodhtohthehmeasure
C) ithishsoldhinhthehequityhmarket
D) moneyhneverhloseshpurchasinghpowerhAnswer:hA
Diff:h2 Type:hMChSkill:hRecall
Objective:h3.1hDescribehwhathmoneyhis


14) Thehdifferencehbetweenhmoneyhandhincomehishthath .

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