Question

02A.    Another term for the purchasing power of money is:

                        a.) the exchange value of money.

                        b.) the price of money.

                        c.) the commodity price of money.

                        d.) the asset price of money.

02B.    The Quantity Theory of Money applies:

1. regression analysis to the study of money.
2. input–output analysis to the study of money.
3. demand and supply analysis to the study of the economic good money.
4. probability theory to the study of money.

02C.    The two ways to define money are the:

a.) a priori and inductive approaches.

b.) a priori and empirical approaches.

c.) a priori and deductive approaches.

d.) descriptive and empirical approaches.

Answer 1

02A. a.) the exchange value of money.
(Purchasing power of money means the exchange value of money.)

02B. input–output analysis to the study of money.
(MV are inputs and PQ are outputs.)

02C. d.) descriptive and empirical approaches.
(These are the two ways define money.)