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- 1. Multiple Choice
Which of the following is NOT a function of money?
Store of value
Unit of account
Medium of exchange
Exchange of debt
- 2. Multiple Choice
The fact that a $10 bill received today will still be worth $10 100 years from now is an example of which function of money?
Store of value
Unit of account
Medium of exhange
- 3. Multiple Choice
This type of money is valuable because it is made of something valuable.
Commodity money
Representative money
Fiat money
- 4. Multiple Choice
This type of money consists of a certificate or token that can be exchanged for an item of value.
Commodity money
Representative money
Fiat money
- 5. Multiple Choice
This type of money does not have any intrinsic value and does not represent an asset in a vault.
Commodity money
Representative money
Fiat money
- 6. Multiple Choice
This type of money is considered legal tender and gets its value from the people's faith in the government.
Commodity money
Representative money
Fiat money
- 7. Multiple Choice
The fact that people will allow you to buy items with a $20 bill is an example of which characteristic of money.
Durability
Portability
Divisibility
Uniformity
Acceptability
- 8. Multiple Choice
The fact that a $20 bill can be exchanged for a 10, a 5 and 5 ones is an example of which characteristic of money?
Durability
Portability
Divisibility
Uniformity
Acceptability
- 9. Multiple Choice
Our money supply is limited in an attempt to control its value. This is an example of which characteristic of money?
Durability
Portability
Divisibility
Scarcity
Acceptability
- 10. Multiple Choice
The fact that your currency fits easily into your pocket, wallet or purse is an example of which characteristic of money?
Durability
Portability
Divisibility
Scarcity
Acceptability
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