Nikolas Reece
Quiz von , erstellt am more than 1 year ago

2016 CSEC Economics (Section 5 - Financial Sector) Quiz am Money: Features, Functions and Money Supply, erstellt von Nikolas Reece am 20/05/2016.

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Nikolas Reece
Erstellt von Nikolas Reece vor mehr als 8 Jahre
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Money: Features, Functions and Money Supply

Frage 1 von 22

1

Divisibility is an important function of money because it

Wähle eine der folgenden:

  • Encourages the process of specialisation

  • Removes the problems associated with barter

  • Enables small transactions to take place

  • Assists individuals to allocate wealth in a profitable manner

Erklärung

Frage 2 von 22

1

Justin takes ½ of his salary every month an purchases shares in the credit union in order to later purchase a sports car. Which function of money is this ½ of his salary performing?

Wähle eine der folgenden:

  • A medium of exchange

  • A standard of deferred payment

  • A store of value

  • A standard of deferred exchange

Erklärung

Frage 3 von 22

1

Rob and Steele joined an underground group who were printing counterfeit money. Which quality of money is the group eroding?

Wähle eine der folgenden:

  • Durability

  • Portability

  • Authenticity

  • Acceptability

Erklärung

Frage 4 von 22

1

Which of the following is NOT a function of money?

Wähle eine der folgenden:

  • Unit of account

  • Form of credit

  • Store of value

  • Medium of exchange

Erklärung

Frage 5 von 22

1

What is money?

Wähle eine der folgenden:

  • Notes and coins only

  • Cheques and debit cards only

  • Anything that is acceptable as a means of settling debts

  • Anything the seller pays to settle a debt

Erklärung

Frage 6 von 22

1

Which of the following is NOT a feature of money?

Wähle eine der folgenden:

  • Portability

  • Uniformity

  • Divisibility

  • Suitability

Erklärung

Frage 7 von 22

1

What is the definition of 'broad' money?

Wähle eine der folgenden:

  • Notes, coins, all chequing accounts and travellers’ cheques

  • Notes and coins plus savings deposits and money market accounts

  • M1 plus money market accounts only

  • M1 plus savings deposits and money market accounts.

Erklärung

Frage 8 von 22

1

Which of the following is NOT considered to be classified as narrow money

Wähle eine der folgenden:

  • Savings deposit

  • Notes and coins

  • Chequing deposits

  • Fiat money

Erklärung

Frage 9 von 22

1

An informal arrangement where a small group of people contribute an equal fixed sum to a common fund is called

Wähle eine der folgenden:

  • Money lender

  • Soufflé

  • Subsidies

  • Sou Sou

Erklärung

Frage 10 von 22

1

Which characteristic of money is crucial for it to be used as a medium of exchange?

Wähle eine der folgenden:

  • Durability

  • Intrinsic value

  • Legal tender

  • Limited in supply

Erklärung

Frage 11 von 22

1

Money can be easily acquired and disposed of without high costs and with relative certainty as to its value. Which characteristic of money does this describe?

Wähle eine der folgenden:

  • Acceptability

  • Durability

  • Liquidity

  • Purchasing power

Erklärung

Frage 12 von 22

1

The exchange of goods and services for other goods and services is known as:

Wähle eine der folgenden:

  • Sou Sou

  • Credit

  • Barter

  • Bartender

Erklärung

Frage 13 von 22

1

In order for exchange to take place, there must be a

Wähle eine der folgenden:

  • Double market

  • Double coincidence of wants

  • Double exchange

  • Doubles

Erklärung

Frage 14 von 22

1

Which of the following items will NOT be considered commodity money

Wähle eine der folgenden:

  • Livestock

  • Gold

  • Silver

  • Paper money

Erklärung

Frage 15 von 22

1

“A monetary system where a country's currency or paper money has a value directly linked to gold”
This statement above is called the:

Wähle eine der folgenden:

  • The Golden Rule

  • The Gold Standard

  • International Gold

  • The Gold System

Erklärung

Frage 16 von 22

1

"The Republic of Plentidolla in Eurpoe attempted to solve its economic issue by printing and distributing double the amount of money it now has, leading to greater economic problems" Which feature of money does this describe:

Wähle eine der folgenden:

  • Stability

  • Acceptability

  • Durability

  • Portability

Erklärung

Frage 17 von 22

1

TV-Mart had a one day 50% sale on 60 inch Samsung flat screens. There was one last TV in store and Frank N Stein went to purchase it via cheque, however, the cashier refused to accept it and sold it to the person behind him for cash. What would have been the feature of Frank's payment by cheque that did not allow him to buy the TV.

Wähle eine der folgenden:

  • He did not sign the cheque

  • It was not legal tender

  • Cash is more valuable than cheques

  • The cheques were not durable

Erklärung

Frage 18 von 22

1

A pair of shoes for $100 is worth four times as much as a cap. This function deals with the price of items

Wähle eine der folgenden:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Erklärung

Frage 19 von 22

1

Trade is facilitated because money is acceptable

Wähle eine der folgenden:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Erklärung

Frage 20 von 22

1

My flat screen tv can be bought on hire purchase

Wähle eine der folgenden:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Erklärung

Frage 21 von 22

1

It can be accumulated and used to purchase a car in 3 years.

Wähle eine der folgenden:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Erklärung

Frage 22 von 22

1

The total stock of money in the economy at a particular time is referred to as

Wähle eine der folgenden:

  • The Central Bank Supply

  • Economic Liquidity

  • The Money Supply

  • Economic Supply

Erklärung

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