Exam 3: What Is Money

To an economist,________ is anything that is generally accepted in payment for goods or services or in the repayment of debt.

All but the most primitive societies use money as a medium of exchange,implying that

A feature of Bitcoin,a new type of electronic money,that make it attractive as a medium of exchange is

Which of the following statements accurately describes the two measures of the money supply?

Increasing transactions costs of selling an asset make the asset

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

Because inflation in Germany after World War I sometimes exceeded 1,000% per month,one can conclude that the German economy suffered from

If an individual redeems a U.S. savings bond for currency

Monetary aggregates are

If an individual moves money from a demand deposit account to a money market deposit account

Of the following assets,the least liquid is

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

A person's house is part of her

Of the following,the largest measure is

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.

Which of the following statements uses the economists' definition of money?

________ 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 deposits and other checkable deposits plus

The currency component includes paper money and coins held in