Homework Answers
Answer
Option e
an exchange of purchasing power
the function of money is medium of exchange, a standard of deferred payment, unit of accounts and stored value but if money cannot be used as the exchange of purchasing power because of the value of money changes in real term because of inflation.
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24. The functions of money do not include acting as a. b. a medium of exchange....
Money functions as 1) a store of value. il) unit of account ill) medium of exchange....
Money functions as 1) a store of value. il) unit of account ill) medium of exchange. iv) opportunity costs of money supply Multiple Choice iv only il and iv i only 1, ll, and it
QUESTION 1 One use of money is to quote prices of different products in comparable units....
QUESTION 1 One use of money is to quote prices of different products in comparable units. Which of the three functions of money is this referring to? medium of exchange seigniorage unit of account opportunity cost QUESTION 2 One purpose of money is to transfer purchasing power from the present into the future. Which of the three functions of money is this referring to? inflation tax store of value seigniorage medium of exchange
Which of the following does not describe some of the functions of the Bank of Canada?...
Which of the following does not describe some of the functions of the Bank of Canada? A. Acts as the government's fiscal agent and acts as a lender of last resort. B. Regulates the money supply. C. Supplies the economy with currency, provides a system for cheque clearing, and holds depository institutions' reserves. D. Acts as a medium of exchange, a unit of accounting, a store of value, and a standard of deferred payment.
Give an example of an item that has been used as money (this can be a...
Give an example of an item that has been used as money (this can be a real-world example, an example from a movie or a TV show or an example from a book). Discuss how this item fulfilled the four functions of money: medium of exchange, unit of accounting, store of value, and standard of deferred payment.
The medium of exchange function of money Select one: a. means that money acts as an...
The medium of exchange function of money Select one: a. means that money acts as an intermediary between buyers and sellers. b. relates to the fact that people measure prices using money. c. relates to the fact that money represents future purchasing power.
Explain the following terms (at least 2-3 sentences per term): Legal Tender M1 M2 Medium of...
Explain the following terms (at least 2-3 sentences per term): Legal Tender M1 M2 Medium of Exchange Monetary Aggregate Money Specialization Standard of deferred payment Store of Value Transactions Costs Unit of Account Wealth Do not just copy&paste from textbook; explain in your own words
1) Because money eliminates the "double coincidence of wants" problem, the development of money as a...
1) Because money eliminates the "double coincidence of wants" problem, the development of money as a ________ has facilitated the expansion of trade. a) store of value b) medium of exchange c) unit of account d) measure of value 2) Aster won $5,000 on a slot machine. She deposits her $5,000 winnings into a money market fund so that she can use the money next year to help her pay for a new boat. This is an example of money...
Determine whether each of the following would fulfill the three functions of money. If the item...
Determine whether each of the following would fulfill the three functions of money. If the item does not fulfill all three, name at least one function of money that it violates. Instructions: You may select more than one answer. Click the box with a check mark for correct answers, and click to empty the box for the wrong answers. a. Salt Salt could be a good store of value because salt keeps for a long time. Salt fulfills the medium...
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
Money can be many things, but it is mor A. a financial liability B a financial...
Money can be many things, but it is mor A. a financial liability B a financial asset. C. liquid. D. illiquid The U.S. central bank (Fed) is a financial institution that A. has the sole right to accept deposits and make loans. B. has the sole right to issue currency. C. sets borrowing and lending in a country. D. determines what assets will back a currency. Which of the following is not one of the functions of money? A. Medium...
Money functions as 1) a store of value. il) unit of account ill) medium of exchange. iv) opportunity costs of money supply Multiple Choice iv only il and iv i only 1, ll, and it
QUESTION 1 One use of money is to quote prices of different products in comparable units. Which of the three functions of money is this referring to? medium of exchange seigniorage unit of account opportunity cost QUESTION 2 One purpose of money is to transfer purchasing power from the present into the future. Which of the three functions of money is this referring to? inflation tax store of value seigniorage medium of exchange
Money can be many things, but it is mor A. a financial liability B a financial asset. C. liquid. D. illiquid The U.S. central bank (Fed) is a financial institution that A. has the sole right to accept deposits and make loans. B. has the sole right to issue currency. C. sets borrowing and lending in a country. D. determines what assets will back a currency. Which of the following is not one of the functions of money? A. Medium...
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