Test Bank For SOC 2020, 6th Edition All Chapters - 9781260075311.pdf

1


2154dTESTdBANKdFORdEXAMd2020


EconomicsdofdMoney,dBanking,danddFinancialdMarketsd6ed(Mishkin)dChapter
d3d WhatdIsdMoney?




3.1 MeaningdofdMoney

1) Adperson'sdhousedisdpartdofdher .
A) money
B) income
C) liabilities
D) wealthd
Answer:d D
Diff:d1
Type:dMC
dSkill:d Recall

Objective:d 3.1dDescribedwhatdmoneydis

2) Moneydis .
A) anythingdthatdisdgenerallydaccepteddindpaymentdfordgoodsdanddservicesdordindthedrepaymentdofdd
ebt
B) adflowdofdearningsdperdunitdofdtime
C) thedtotaldcollectiondofdpiecesdofdpropertydthatdaredadstoredofdvalue
D) alwaysdbaseddondadpreciousdmetaldlikedgolddordsilverd
Answer:d A
Diff:d1
Type:dMC
dSkill:d Recall

Objective:d 3.1dDescribedwhatdmoneydis

3) Todandeconomist,
isdanythingdthatdisdgenerallydaccepteddindpaymentdfordgoodsdanddservicesdordindthedrepaymentd
ofddebt.
A) wealth
B) income
C) money
D) creditdA
nswer:d C
Diff:d1
Type:dMC
dSkill:d Recall

Objective:d 3.1dDescribedwhatdmoneydis

4) Currencydisddefineddas .
A) anythingdaccepteddfordpaymentdofdgoodsdanddservices
B) paperdmoneydanddcoins
C) adunitdofdaccount
D) foreigndexchange
dAnswer:dB

, 2


Diff:d1
Type:dMC
Skill:d Recall
d

Objective:d 3.1dDescribedwhatdmoneydis

5) Moneydis .
A) thedsamedasdcurrency
B) anythingdthatdisdgenerallydaccepteddindpaymentdofdgoodsdordservicesdordindthedrepaymentdofdd
ebts
C) notduseddasdadunitdofdaccount
D) defineddasdpaperdmoneydanddcoinsd
Answer:dB
Diff:d1
Type:dMC
dSkill:d Recall

Objective:d 3.1dDescribedwhatdmoneydis

6) Currencydincludes .
A) paperdmoneydanddcoins
B) paperdmoney,dcoins,danddcheques
C) paperdmoneydanddcheques
D) paperdmoney,dcoins,dcheques,danddsavingsddepositsd
Answer:d A
Diff:d1
Type:dMC
dSkill:d Recall

Objective:d 3.1dDescribedwhatdmoneydis

7) Theredisdnodsingledprecisedmeasuredofdmoneydordthedmoneydsupplydfordeconomistsdbecause
.
A) thedgovernmentdconsidersdmoneydsupplydstatisticsdtodbedconfidentialdanddrefusesdtodpublishdt
hem
B) decidingdwhatdisdgenerallydaccepteddindpaymentdfordgoodsdanddservicesdordindthedrepaymentdo
fddebtdisddifficultdtoddetermine
C) economistsdcannotdagreedifdcurrencydshoulddbedconsidereddmoney
D) definitionsdchangedalldthedtimed
Answer:dB
Diff:d2
Type:dMC
dSkill:d Recall

Objective:d 3.1dDescribedwhatdmoneydis

8) Evendeconomistsdhavednodsingle,dpreciseddefinitiondofdmoneydbecause .
A) moneydsupplydstatisticsdaredadstatedsecret
B) thedBankdofdCanadaddoesdnotdemploydordreportddifferentdmeasuresdofdthedmoneydsupply
C) thed"moneyness"dordliquiditydofdandassetdisdadmatterdofddegree
D) economistsdfindddisagreementdinterestingdanddrefusedtodagreedfordideologicaldreasonsd
Answer:dC
Diff:d2
Type:dMC
dSkill:d Recall

,Objective:d 3.1dDescribedwhatdmoneydis

, 3