Introduction to Economics Written Assignment Unit 4 2022.

CreatedgBy:gAgSolution


TestgBankgforgEconomicsgofgMoney,gBanking,gandgFinancialgMarkets
g6thgeditiongbygMishkin
Chapterg3gWhatgIsgMoney?


3.1 MeaninggofgMoney


1) Agperson'sghousegisgpartgofgherg .
A) money
B) income
C) liabilities
D) wealthgAnswer:gD
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


2) Moneygisg .
A)
anythinggthatgisggenerallygacceptedgingpaymentgforggoodsgandgservicesgorgingthegrepayme
ntgofgdebt
B) agflowgofgearningsgpergunitgofgtime
C) thegtotalgcollectiongofgpiecesgofgpropertygthatgaregagstoregofgvalue
D) alwaysgbasedgongagpreciousgmetalglikeggoldgorgsilvergAnswer:gA
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


3) Togangeconomist,g
isganythinggthatgisggenerallygacceptedgingpaymentgforggoodsgandgservicesgorgingthegrepay
mentgofgdebt.
A) wealth
B) income
C) money


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D) creditgAnswer:gC
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis
4) Currencygisgdefinedgasg .
A) anythinggacceptedgforgpaymentgofggoodsgandgservices
B) papergmoneygandgcoins
C) agunitgofgaccount
D) foreigngexchangegAnswer:gB
g

Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis
5) Moneygisg .
A) thegsamegasgcurrency
B)
anythinggthatgisggenerallygacceptedgingpaymentgofggoodsgorgservicesgorgingthegrepaymentg
ofgdebts
C) notgusedgasgagunitgofgaccount
D) definedgasgpapergmoneygandgcoinsgAnswer:gB
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


6) Currencygincludesg .
A) papergmoneygandgcoins
B) papergmoney,gcoins,gandgcheques
C) papergmoneygandgcheques
D) papergmoney,gcoins,gcheques,gandgsavingsgdepositsgAnswer:gA
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


7)
Theregisgnogsinglegprecisegmeasuregofgmoneygorgthegmoneygsupplygforgeconomistsgbecau
se
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.
A)
theggovernmentgconsidersgmoneygsupplygstatisticsgtogbegconfidentialgandgrefusesgtogpubli
shgthem
B)
decidinggwhatgisggenerallygacceptedgingpaymentgforggoodsgandgservicesgorgingthegrepaym
entgofgdebtgisgdifficultgtogdetermine
C) economistsgcannotgagreegifgcurrencygshouldgbegconsideredgmoney
D) definitionsgchangegallgthegtimegAnswer:gB
Diff:g2 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


8) Evengeconomistsghavegnogsingle,gprecisegdefinitiongofgmoneygbecauseg .
A) moneygsupplygstatisticsgaregagstategsecret
B) thegBankgofgCanadagdoesgnotgemploygorgreportgdifferentgmeasuresgofgthegmoneygsupply
C) theg"moneyness"gorgliquiditygofgangassetgisgagmattergofgdegree
D)
economistsgfindgdisagreementginterestinggandgrefusegtogagreegforgideologicalgreasonsgAns
wer:gC
Diff:g2 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis
g



g

9) Thegtotalgcollectiongofgpiecesgofgpropertygthatgservegtogstoregvaluegisgagperson'sg .
A) wealth
B) income
C) money
D) creditgAnswer:gA
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis



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10) isgusedgtogmakegpurchasesgwhileg
isgthegtotalgcollectiongofgpiecesgofgpropertygthatgservegtogstoregvalue.
A) Money;gincome
B) Wealth;gincome
C) Income;gmoney
D) Money;gwealthgAnswer:gD
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


11) isgagflowgofgearningsgpergunitgofgtime.
A) Income
B) Money
C) Wealth
D) CurrencygAnswer:gA
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis


12) Angindividual'sgannualgsalarygisgherg .
A) money
B) income
C) wealth
D) liabilitiesgAnswer:gB
Diff:g1 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis
g

13) Whengwegsaygthatgmoneygisgagstockgvariable,gwegmeangthatg .
A) thegquantitygofgmoneygisgmeasuredgatgaggivengpointgingtime
B) wegmustgattachgagtimegperiodgtogthegmeasure
C) itgisgsoldgingthegequitygmarket
D) moneygneverglosesgpurchasinggpowergAnswer:gA
Diff:g2 Type:gMCgSkill:gRecall
Objective:g3.1gDescribegwhatgmoneygis
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