Exam 3: What Is Money

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

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

________ is a flow of earnings per unit of time.

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

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

Increasing transactions costs of selling an asset make the asset

Monetary aggregates are

The difference between money and income is that

When there are many goods is that in a barter system

When paper currency is decreed by governments as legal tender,legally it must be

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

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

Which of the following is NOT included in the measure of M1?

During hyperinflations

Money ________ transaction costs,allowing people to specialize in what they do best.

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

If the price level doubles,the value of money

The payments system is

Which of the following is a TRUE statement?

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