Multiple Choice
Fiat money
A) has no intrinsic value.
B) is backed by gold.
C) is a medium of exchange but not a unit of account.
D) is any close substitute for currency such as checkable deposits.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which of the following best illustrates the
Q2: M1 includes<br>A)small time deposits.<br>B)savings deposits.<br>C)other checkable deposits.<br>D)money
Q3: When colonists in Virginia used tobacco as
Q4: Paper dollars<br>A)are commodity money and gold coins
Q6: Jim transfers money from his money market
Q7: M1 includes<br>A)currency.<br>B)demand deposits.<br>C)traveler's checks.<br>D)All of the above
Q8: Which of the following is included in
Q9: Credit cards<br>A)represent the largest component of M1.<br>B)are
Q10: Given the following information,what are the <img
Q11: Demand deposits are a type of<br>A)checking account.<br>B)time