Econ 2102 Final 2025/2026 Exam
Questions and Corresponding Answers
with Surety of 100% Pass Mark
money - 🧠ANSWER ✔✔the set of assets in an economy that people
regularly use to buy goods and services
medium of exchange - 🧠ANSWER ✔✔an item that buyers give to sellers
when they want to purchase goods and services
unit of account - 🧠ANSWER ✔✔the yardstick people use to post prices and
record debts)
store of value - 🧠ANSWER ✔✔an item that people can use to transfer
purchasing power from the present to the future
liquidity - 🧠ANSWER ✔✔the ease with which an asset can be converted
into the economy's medium of exchange
, commodity money - 🧠ANSWER ✔✔money that takes the form of a
commodity with intrinsic value
fiat money - 🧠ANSWER ✔✔money without intrinsic value that is used as
money by government decree
currency - 🧠ANSWER ✔✔the paper bills and coins in the hands of the
public
demand deposits - 🧠ANSWER ✔✔balances in bank accounts that
depositors can access on demand by writing a check
Federal Reserve - 🧠ANSWER ✔✔the central bank of the United States
central bank - 🧠ANSWER ✔✔an institution designed to oversee the
banking system and regulate thequantity of money in the economy
money supply - 🧠ANSWER ✔✔the quantity of money available in the
economy
monetary policy - 🧠ANSWER ✔✔the setting of the money supply by
policymakers in the central bank
Questions and Corresponding Answers
with Surety of 100% Pass Mark
money - 🧠ANSWER ✔✔the set of assets in an economy that people
regularly use to buy goods and services
medium of exchange - 🧠ANSWER ✔✔an item that buyers give to sellers
when they want to purchase goods and services
unit of account - 🧠ANSWER ✔✔the yardstick people use to post prices and
record debts)
store of value - 🧠ANSWER ✔✔an item that people can use to transfer
purchasing power from the present to the future
liquidity - 🧠ANSWER ✔✔the ease with which an asset can be converted
into the economy's medium of exchange
, commodity money - 🧠ANSWER ✔✔money that takes the form of a
commodity with intrinsic value
fiat money - 🧠ANSWER ✔✔money without intrinsic value that is used as
money by government decree
currency - 🧠ANSWER ✔✔the paper bills and coins in the hands of the
public
demand deposits - 🧠ANSWER ✔✔balances in bank accounts that
depositors can access on demand by writing a check
Federal Reserve - 🧠ANSWER ✔✔the central bank of the United States
central bank - 🧠ANSWER ✔✔an institution designed to oversee the
banking system and regulate thequantity of money in the economy
money supply - 🧠ANSWER ✔✔the quantity of money available in the
economy
monetary policy - 🧠ANSWER ✔✔the setting of the money supply by
policymakers in the central bank
