题目内容

Liquidity is defined as

A. the ease with which a given asset can be converted to a store of value.
B. the ease with which a given asset can be converted to a unit of account.
C. the ease with which a given asset can be converted to a medium of exchange.
D. the ease with which a given asset can be converted to a standard of deferred payment.

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Dollar bills in the modern economy serve as money because

A. they are backed by the gold stored in Fort Knox.
B. they can be redeemed for gold by the central bank.
C. they have value as a commodity independent of their use as money.
D. people have confidence that others will accept them as money

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People hold money as opposed to financial assets because money

A. a. earns interest.
B. b. is perfectly liquid.
C. c. earns no interest.
D. d. earns a higher return than other financial assets.

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The statement, "My iPhone is worth $700" represents money's function as

A. a. a medium of exchange.
B. b. a unit of account.
C. c. a store of value.
D. d. a standard of deferred payment.

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Which of the following is one of the most important benefits of money in an economy?

A. a. Money allows for the exchange of goods and services.
B. b. Money allows for the accumulation of wealth.
C. c. Money makes exchange easier, leading to more specialization and higher productivity.
D. d. Money encourages people to produce all of their own goods (self-sufficiency) and therefore increases economic stability.

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