For anything to be used as money, it has to be a tangible commodity. issued by...
For anything to be used as money, it has to be
a tangible commodity.
issued by the government.
backed by gold.
universally accepted.
Homework Answers
Universally accepted
Anything that has universal acceptance can be considered as money. It can be issued by government or the central bank and not necessarily should be backed by gold. It can be intangible as well such as digital money.
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For anything to be used as money, it has to be
a tangible commodity.
issued by...
The reason the U.S. money has value is that it
The reason the U.S. money has value is that it is commodity money is backed by gold has a fixed value established by the Federal Reserve is accepted by others in exchange for goods and service is fiat money
Gold-backed money: uses more gold resources than does the commodity money such as gold coins has...
Gold-backed money: uses more gold resources than does the commodity money such as gold coins has no intrinsic value but the value is guaranteed that it can be converted into gold at certain price is a way to provide the functions of money without tying up its value to gold none of the above
1. Which of the following statements is true of money? It is anything accepted in exchange...
1. Which of the following statements is true of money? It is anything accepted in exchange for goods and services. It is not a gold-backed currency. It is not readily convertible to precious metal. It needs to be accompanied by a government "note" or promise to be considered valid. It is exclusively dispatched through automated teller machines. 2. There is an increase in economic activity when the Federal Reserve Board: Group of answer choices does the hokey-pokey. raises the discount...
1) Which of the following is not a form of commodity money? a) cigarettes b) All...
1) Which of the following is not a form of commodity money? a) cigarettes b) All of these c) checks d) precious stones 2) Legal tender is a) money that a government has required to be accepted in settlement of debts. b) money that has a value other than as a currency. c) money that must be backed by gold. d) money that must be accepted as payment for goods and services. 3) Sarafina withdraws $450 from her saving account...
Gold used as Money: Is commodity money Would be a medium of exchange Has no intrinsic value Both A and B are correct. Fu...
Gold used as Money: Is commodity money Would be a medium of exchange Has no intrinsic value Both A and B are correct. Funds in your checking account: Would be included in your list of assets Is a medium of exchange Is fiat money All of the above are true
When countries replaced gold and silver coins with paper money exchangeable for certain amounts of precious...
When countries replaced gold and silver coins with paper money exchangeable for certain amounts of precious metals, the monetary system evolved from: O Using commodity money to using commodity-backed money. O Using commodity-backed money to using fiat money. 0 Using commodity money to using fiat money. O Using fiat money to using commodity-backed money.
Dollar bills in the modern economy serve as money because A.they are backed by the gold...
Dollar bills in the modern economy serve as money because A.they are backed by the gold stored in Fort Knox. B.they can be redeemed for gold by the central bank. C.they have value as a commodity independent of their use as money. D.people have confidence that others will accept them as money.
because it doesn't need approval 1. The Federal Reserve is when making monetary policy decisions. a....
because it doesn't need approval 1. The Federal Reserve is when making monetary policy decisions. a. decentralized; presidential and congressional b. independent within government; presidential and congressional c. decentralized; private sector d. independent within government; foreign 2. The organization within the Federal Reserve that determines monetary policy is: a. the Board of Governors b. the New York Federal Reserve District Bank c. the Federal Open Market Committee d. the Federal Monetary Control Committee 3. The Federal Reserve system hasdistrict banks....
When we are talking about money in an economy; it is incorrect to say that? Select...
When we are talking about money in an economy; it is incorrect to say that? Select one: a. An economy's supply of money is good measure of its wealth b. Money is anything that is accepted as a medium of exhchange, as standard of value, as a store of value, or as a means of deferred payments, even if there is no gold to back it up c. The stock of money does not include government bonds d. Demand deposits...
5. In the United States, money is backed by: Select one: a. no physical commodity. b....
5. In the United States, money is backed by: Select one: a. no physical commodity. b. gold. c. None of these answers is correct. d. oil e. silver. 6. Practically, in the long run the real interest rate is equal to: Select one: a. the marginal product of capital. b. the rate of return to long-term bonds. c. a savings account. d. the return to stock markets. e. the return to housing. 7. Figure 9.5: U.S. Inflation 1960-2015 PERCENT 2012...
When countries replaced gold and silver coins with paper money exchangeable for certain amounts of precious metals, the monetary system evolved from: O Using commodity money to using commodity-backed money. O Using commodity-backed money to using fiat money. 0 Using commodity money to using fiat money. O Using fiat money to using commodity-backed money.
because it doesn't need approval 1. The Federal Reserve is when making monetary policy decisions. a. decentralized; presidential and congressional b. independent within government; presidential and congressional c. decentralized; private sector d. independent within government; foreign 2. The organization within the Federal Reserve that determines monetary policy is: a. the Board of Governors b. the New York Federal Reserve District Bank c. the Federal Open Market Committee d. the Federal Monetary Control Committee 3. The Federal Reserve system hasdistrict banks....
When we are talking about money in an economy; it is incorrect to say that? Select one: a. An economy's supply of money is good measure of its wealth b. Money is anything that is accepted as a medium of exhchange, as standard of value, as a store of value, or as a means of deferred payments, even if there is no gold to back it up c. The stock of money does not include government bonds d. Demand deposits...
5. In the United States, money is backed by: Select one: a. no physical commodity. b. gold. c. None of these answers is correct. d. oil e. silver. 6. Practically, in the long run the real interest rate is equal to: Select one: a. the marginal product of capital. b. the rate of return to long-term bonds. c. a savings account. d. the return to stock markets. e. the return to housing. 7. Figure 9.5: U.S. Inflation 1960-2015 PERCENT 2012...
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