What is the function of money that allows it to be used to buy goods and services without the complications of bartering?

Functions of Money Quiz

Quiz
•
Social Studies
•
11th Grade
•
Hard
Kelly Krause
FREE Resource
61 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Medium of Exchange
Unit of Account
Store of Value
Measure of Wealth
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which function of money is used to measure the value of goods and services?
Medium of Exchange
Unit of Account
Store of Value
Currency Standard
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What function of money allows it to preserve or save purchasing power for future consumption?
Medium of Exchange
Unit of Account
Store of Value
Financial Instrument
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What components make up M1 in the money supply?
Cash, coins, checking deposits, traveler's checks
Savings deposits, small time deposits, money market deposits
Money market mutual funds, savings deposits, cash
Checking deposits, small time deposits, money market mutual funds
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What additional components are included in M2 that are not in M1?
Cash and coins
Traveler's checks and checking deposits
Savings deposits, small time deposits, money market deposits, money market mutual funds
Only cash and savings deposits
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do M1 and M2 together refer to in economics?
Interest rates
Money supply
Inflation rate
Exchange rate
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is the supply of money considered constant in this context?
Because it fluctuates with interest rates
Because it is controlled by the government
Because it has a vertical supply curve
Because it changes with inflation
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