Money

Front

Which of the following is NOT a function of money?

Store of value

,

Unit of account

,

Medium of exchange

,

Exchange of debt

Back

Exchange of debt

Front

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?

Back

Store of value

Front

This type of money is valuable because it is made of something valuable. Options: Commodity money, Representative money, Fiat money

Back

Commodity money

Front

This type of money consists of a certificate or token that can be exchanged for an item of value.

Back

Representative money

Front

This type of money does not have any intrinsic value and does not represent an asset in a vault.

Back

Fiat money

Front

This type of money is considered legal tender and gets its value from the people's faith in the government.

Back

Fiat money

Front

The fact that people will allow you to buy items with a $20 bill is an example of which characteristic of money?

Back

Acceptability

Front

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?

Back

Divisibility

Front

Our money supply is limited in an attempt to control its value. This is an example of which characteristic of money?

Back

Scarcity

Front

The fact that your currency fits easily into your pocket, wallet or purse is an example of which characteristic of money?

Back

Portability