Exam 3: What Is Money

A smart card is the equivalent of

The currency component includes paper money and coins held in

Which of the following sequences accurately describes the evolution of the payments system?

________ money could be used for some other purpose other than as a medium of exchange,for example,gold coins could be melted down and turned into gold jewelry.

If an individual uses money from a demand deposit account to purchase a U.S.savings bond,

Paper currency that has been declared legal tender but is not convertible into coins or precious metals is called ________ money.

The decade during which the growth rates of monetary aggregates diverged the most is

________ is the narrowest monetary aggregate that the Fed reports.

Since it does not have to be converted into anything else to make purchases,________ is the most liquid asset.

Small-denomination time deposits refer to certificates of deposit with a denomination of less than

What factors have slowed down the movement to a system where all payments are made electronically?

________ is a flow of earnings per unit of time.

Compared to checks,paper currency and coins have the major drawbacks that they

Of the following assets,the least liquid is

________ is the relative ease and speed with which an asset can be converted into a medium of exchange.

The components of the U.S.M1 money supply are demand and checkable deposits plus

An electronic payments system has not completely replaced the paper payments system because of all of the following reasons except

Ranking assets from most liquid to least liquid,the correct order is

Which of the following is included in M2 but not in M1?

Dennis notices that jackets are on sale for $99.In this case money is functioning as a