Exam 3: What Is Money

If an individual moves money from a money market deposit account to currency,

Of money's three functions, the one that distinguishes money from other assets is its function as a

If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for another. If, however, there are ten goods in a barter economy, then one needs to know ________ prices in order to exchange one good for another.

An individual's annual salary is her

A smart card is the equivalent of

Which of the following is not a form of e-money?

The evolution of the payments system from barter to precious metals, then to fiat money, then to checks can best be understood as a consequence of the fact that

Compared to an electronic payments system, a payments system based on checks has the major drawback that

________ is used to make purchases while ________ is the total collection of pieces of property that serve to store value.

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

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

Of the following, the largest is

Although ________ currency is lighter than coins made of metals, a disadvantage arising from modern technology is the ease of ________.

Why are most of the U.S. dollars held outside of the United States?

Which of the following is included in both M1 and M2?

Because it is a unit of account, money

When money prices are used to facilitate comparisons of value, money is said to function as a

When economists say that money promotes ________, they mean that money encourages specialization and the division of labor.

An important characteristic of the modern payments system has been the rapidly increasing use of

If peanuts serve as a medium of exchange, a unit of account, and a store of value, then peanuts are