econ 311 chapter 10-
money actual
questions with
complete verified
solutions 2025
Money ______
a. is more efficient than barter
b. makes trades easier
c. allows greater specialization
d. All of the above - answer is more efficient than barter makes
trades easier, allows greater specialization
answer: d
Paper money:
a. has a high intrinsic value
b. is used in barter economy
c. is valuable because it is generally accepted in trade
d. is valuable only because of the legal tender requirement - answer
is valuable because it is generally accepted in trade
answer: c
, Barter:
a. requires a double-coincidence of wants
b. is less effective than money
c. is the trading of goods for goods
d. all of the above - answer requires a double-coincidence of wants,
is less effective than money, is the trading of goods for goods
answer: d
When Arnold uses dollars to record his income and expenses, he is
using money as a:
a. unit of account
b. means of payment
c. store of value
d. medium of exchange - answer unit of account
answer: a
Which of the following is a store of value?
a. currency
b. u.s. government bonds
c. fine art
d. all of the above - answer currency, u.s. government bonds, fine
art
answer: d
money actual
questions with
complete verified
solutions 2025
Money ______
a. is more efficient than barter
b. makes trades easier
c. allows greater specialization
d. All of the above - answer is more efficient than barter makes
trades easier, allows greater specialization
answer: d
Paper money:
a. has a high intrinsic value
b. is used in barter economy
c. is valuable because it is generally accepted in trade
d. is valuable only because of the legal tender requirement - answer
is valuable because it is generally accepted in trade
answer: c
, Barter:
a. requires a double-coincidence of wants
b. is less effective than money
c. is the trading of goods for goods
d. all of the above - answer requires a double-coincidence of wants,
is less effective than money, is the trading of goods for goods
answer: d
When Arnold uses dollars to record his income and expenses, he is
using money as a:
a. unit of account
b. means of payment
c. store of value
d. medium of exchange - answer unit of account
answer: a
Which of the following is a store of value?
a. currency
b. u.s. government bonds
c. fine art
d. all of the above - answer currency, u.s. government bonds, fine
art
answer: d
