Finance Midterm 23-24

Money is use to measure value in the economy

• True

• False

Ben put 20 pesos everyday on his piggy bank for the past 30 days in order to save money. He wants to buy a bicycle same as his classmate. He assume that money he saves for the past 30 days will be same at the end of a year. This is best describe as _________.

• Money is a unit of account

• Money is a store of value

• Money is a medium of exchange

• Money facilitates transaction

The Banko Sentral of Pilipinas introduces new bank notes for Php. 1,000 that are more responsive to the needs of elderly and the visually impaired, and features the latest anti-counterfeiting technology. This is an example of _________.

• M3

• M2

• M1

• None of the Above

If Karen receives a post dated check and can be in cash next month. It means that money is readily transferred into cash?

• False

• True

In order to understand the value of money, you need to know its cost and benefits.

• True

• False

Eddie bought a Class A Airforce 1 shoes amounting to Php. 3,000 pesos since he could not afford the original which is amounting to Php. 10,000. After 2 days the shoes he bought (Class A) broke. He regretted buying the fake one and think he should just save money to buy the original. This is best explain as ___________.

• The concept of Active Money

• The concept of Money

• The concept of Value of Money

• The concept of Value for the Money

Salary used in paying monthly bills, is best describe in ___________.

• Value of Money

• Money Supply

• Value for Money

• Velocity of Money

During Christmas Season, people are spending their money on goods and services left and right. This scenario is best example of ________.

• Money Supply

• Value for Money

• Velocity for Money

• Value of Money

The amount of 1pc of Chicken Joy from Jollibee today will be less than the amount of Chicken Joy in the next 5 years. This best describe _______.

• Price Increase

• Inflation

• Deflation

• Price Decrease

Monetary System is use as a guideline not only in the Philippines but also in other country.

• True

• False