Nikolas Reece
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2016 (Section 5 - Financial Sector) CSEC Economics Test sobre Money: Features, Functions and Money Supply, creado por Nikolas Reece el 20/05/2016.

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Nikolas Reece
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Money: Features, Functions and Money Supply

Pregunta 1 de 22

1

Divisibility is an important function of money because it

Selecciona una de las siguientes respuestas posibles:

  • 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

Explicación

Pregunta 2 de 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?

Selecciona una de las siguientes respuestas posibles:

  • A medium of exchange

  • A standard of deferred payment

  • A store of value

  • A standard of deferred exchange

Explicación

Pregunta 3 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • Durability

  • Portability

  • Authenticity

  • Acceptability

Explicación

Pregunta 4 de 22

1

Which of the following is NOT a function of money?

Selecciona una de las siguientes respuestas posibles:

  • Unit of account

  • Form of credit

  • Store of value

  • Medium of exchange

Explicación

Pregunta 5 de 22

1

What is money?

Selecciona una de las siguientes respuestas posibles:

  • 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

Explicación

Pregunta 6 de 22

1

Which of the following is NOT a feature of money?

Selecciona una de las siguientes respuestas posibles:

  • Portability

  • Uniformity

  • Divisibility

  • Suitability

Explicación

Pregunta 7 de 22

1

What is the definition of 'broad' money?

Selecciona una de las siguientes respuestas posibles:

  • 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.

Explicación

Pregunta 8 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • Savings deposit

  • Notes and coins

  • Chequing deposits

  • Fiat money

Explicación

Pregunta 9 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • Money lender

  • Soufflé

  • Subsidies

  • Sou Sou

Explicación

Pregunta 10 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • Durability

  • Intrinsic value

  • Legal tender

  • Limited in supply

Explicación

Pregunta 11 de 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?

Selecciona una de las siguientes respuestas posibles:

  • Acceptability

  • Durability

  • Liquidity

  • Purchasing power

Explicación

Pregunta 12 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • Sou Sou

  • Credit

  • Barter

  • Bartender

Explicación

Pregunta 13 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • Double market

  • Double coincidence of wants

  • Double exchange

  • Doubles

Explicación

Pregunta 14 de 22

1

Which of the following items will NOT be considered commodity money

Selecciona una de las siguientes respuestas posibles:

  • Livestock

  • Gold

  • Silver

  • Paper money

Explicación

Pregunta 15 de 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:

Selecciona una de las siguientes respuestas posibles:

  • The Golden Rule

  • The Gold Standard

  • International Gold

  • The Gold System

Explicación

Pregunta 16 de 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:

Selecciona una de las siguientes respuestas posibles:

  • Stability

  • Acceptability

  • Durability

  • Portability

Explicación

Pregunta 17 de 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.

Selecciona una de las siguientes respuestas posibles:

  • He did not sign the cheque

  • It was not legal tender

  • Cash is more valuable than cheques

  • The cheques were not durable

Explicación

Pregunta 18 de 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

Selecciona una de las siguientes respuestas posibles:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Explicación

Pregunta 19 de 22

1

Trade is facilitated because money is acceptable

Selecciona una de las siguientes respuestas posibles:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Explicación

Pregunta 20 de 22

1

My flat screen tv can be bought on hire purchase

Selecciona una de las siguientes respuestas posibles:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Explicación

Pregunta 21 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • A medium of exchange

  • Store of value

  • Unit of account

  • Method of deferred payment

Explicación

Pregunta 22 de 22

1

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

Selecciona una de las siguientes respuestas posibles:

  • The Central Bank Supply

  • Economic Liquidity

  • The Money Supply

  • Economic Supply

Explicación

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