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- Buying a cup of coffee with a dollar bill represents the use of money as aA primary feature of money is that it serves as barter value intrinsic value commodity value a medium of exchangeIf a customer came into the bank to withdraw more from their demand deposits than the bank currently has on hand in vault cash, what are the sources for getting the cash to cover the withdraws(Check ALL That Apply)? Print New Money Borrow from another Bank Borrow from the Federal Reserve Convert(Liquidate) Loans
- An advantage that money has over other assets is that it: a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value over time d. Has lower transaction costs to use as a means of payment than other assetsA $25,000 price tag on a new car is an example of money as: Store of value Medium of exchange Unit of account A time depositAn advantage that money has over other assets is that it: Answer a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value overtime d. Has lower transaction costs to use as a means of payment than other assets
- Trace the development of money (a) barter (b) commodity and (c) fiat money, explain the role of money in society and differentiate between the characteristics and functions of money.That money can be used to repay loans relates to money's function as a A) Standard of deferred payment store of value B) Medium of exchange C) Mediator of ValueOne limitation of using money as a store of value is that: a) money needs to be divisible and portable b) money loses value over time due to inflation c) money is not readily acceptable everywhere in return for goods and services d) money is not very liquid
- The money stock does not include demand deposits bank notes and coins gold held by households traveler's checksCould corn be used as commodity money?Which of the criteria for being used as money in a modern society does each of the following not meet? The criteria are (a) not rare, (b) indivisible into smaller units, (c) not durable, (d) doesn’t maintain its value over time, (e) not portable, (f) not expandable, (g) too easy to counterfeit. Items that could not be used for money. Example. Ice Cube. Why not? (c) not durable Bowling Ball. Why not? Rare gems. Why not? Whiskey. Why not? Sand. Why not? Cigarette. Why not?
