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Gold, silver, and furs, when used as money, are referred to as    a- fiat money b-precious...

Gold, silver, and furs, when used as money, are referred to as   
a- fiat money
b-precious money
c-paper currency
d-commodity money

The money supply is considered to be M1. M1 consists of what?
a-currency + checking account balances + saving account balances   
b-currency + checking account balances + travelers' checks   
c-currency + checking account balances + credit cards   
d-currency + credit cards + certificates of deposit   
e-currency only  
The main purpose of financial intermediaries is that
a-the process of finding loans is complicated  
b-firms are usually unwilling to part with extra revenue so financial intermediaries take these revenues from firms   
c-they are examples of banks   
d-we could not function in society without them
e-they serve as brokers between borrowers and lenders

Reserves are defined as
  
a- total cash in bank vaults
b-money deposited in Federal Reserve accounts
c-the sum of vault cash and deposits at Federal Reserve banks
d-the total amount of money a bank must hold
e-ten percent of checking deposits liabilities

business   economics   
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Answer #1

1. (d) Gold, silver and furs When used as money are referred as Commodity money. The value of commodity money is known on the basis of material by which it is manufactured like gold or silver.

2.(b) M1 consists of currency + currency account balances+ traveler's checks.

3.(e) The main purpose of financial intermediaries is that they serve as brokers between borrowers and lenders.

4.(a) Reserves are total cash in bank vaults. These are cash holdings with the bank and also the deposits kept in bank's account with the central bank.

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