2025 Updated Test for Money and Banking
Assessment Questions & Verified Correct answers
(A+ Guarantee)
In macroeconomics, ___________________________ describes a situation in which two people
each want to exchange some good or service that the other can provide.
A. a medium of exchange
B. a double coincidence of wants
C. interrelated banking
D. the usefulness of money - correct answer✔✔B
Which of the following is omitted in a barter transaction?
A. trade
B. medium of exchange
C. store of value
D. money - correct answer✔✔D
If Bill performs plumbing upgrades for Alice in exchange for her incorporating his business, then
their _________________________ will be satisfied.
A. balance of trade
B. double coincidence of wants
C. convenience of exchange
D. division of labor - correct answer✔✔B
, ____________ is a completely inadequate mechanism ____________________ in a modern
advanced economy.
A. Currency; for providing a medium of exchange
B. Money; for providing a store of value
C. Barter; for trying to coordinate trades
D. Money; to use as a unit of account - correct answer✔✔C
In macroeconomics, a _______________ describes the common way in which market values are
measured in an economy.
A. unit of account
B. medium of exchange
C. store of value
D. unit of exchange - correct answer✔✔A
In uncertain economic times, ____________________ serves as a way of preserving economic
value that can be spent or consumed in the future.
A. buying a new car
B. owning gold
C. refinancing your home mortgage
D. obtaining a credit card - correct answer✔✔B
In modern economies, credit cards are a _________________ because of their wide acceptance
as a method of payment for both goods and services.
A. unit of exchange
Assessment Questions & Verified Correct answers
(A+ Guarantee)
In macroeconomics, ___________________________ describes a situation in which two people
each want to exchange some good or service that the other can provide.
A. a medium of exchange
B. a double coincidence of wants
C. interrelated banking
D. the usefulness of money - correct answer✔✔B
Which of the following is omitted in a barter transaction?
A. trade
B. medium of exchange
C. store of value
D. money - correct answer✔✔D
If Bill performs plumbing upgrades for Alice in exchange for her incorporating his business, then
their _________________________ will be satisfied.
A. balance of trade
B. double coincidence of wants
C. convenience of exchange
D. division of labor - correct answer✔✔B
, ____________ is a completely inadequate mechanism ____________________ in a modern
advanced economy.
A. Currency; for providing a medium of exchange
B. Money; for providing a store of value
C. Barter; for trying to coordinate trades
D. Money; to use as a unit of account - correct answer✔✔C
In macroeconomics, a _______________ describes the common way in which market values are
measured in an economy.
A. unit of account
B. medium of exchange
C. store of value
D. unit of exchange - correct answer✔✔A
In uncertain economic times, ____________________ serves as a way of preserving economic
value that can be spent or consumed in the future.
A. buying a new car
B. owning gold
C. refinancing your home mortgage
D. obtaining a credit card - correct answer✔✔B
In modern economies, credit cards are a _________________ because of their wide acceptance
as a method of payment for both goods and services.
A. unit of exchange
