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Money Quiz 7 (25 MCQs)

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1. All of the following are characteristics of money EXCEPT:
2. RR=10%, deposits are 50, 000. What are the required reserves?
3. Deposits made by bank customers are also known as?
4. Demand deposit account that can keep your money safe, and easily withdraw at any time is called?
5. The % of all deposits that banks must keep on hand inside the bank vault and are not able to be loaned out is called
6. The type of money that HAS VALUE BECAUSE THE GOV'T SAYS IT DOES
7. The ratio of total deposits that a commercial bank has to keep with themselves is called:
8. Money must be easily divided into small parts so that people can purchase goods and services at any price.
9. When I see one used car advertised for $ 500 and another for $ 1000, money is functioning in what role?
10. Where do we save money at the bank?
11. Coins have been used for _____ of years.
12. Cattle, cowrie shells, sheep, camels, and grain have been accepted as method to acquire goods and services.
13. The money or banking multiplier is found by?
14. Patrick places his pocket change into his savings bank on his desk each evening. By his actions, Patrick indicates that he believes that money is a
15. What is the most restrictive definition of money
16. Actual Reserves minus Required Reserves equals
17. Who is author of the ancient book on economics, Arthashastra?
18. This characteristic of money refers to ability to retain its value _____ it is not too prone to inflation or deflation.
19. A prolonged period of rising stock prices and a general feeling of investor optimism:
20. Government issued and endorsed currency thats only use and purpose is to be used for the repayment of debt or for the purchasing of goods and services.
21. The fact that all money must be identical so that people recognize it means that it meets which characteristic?
22. This type of money does not have any value unless a government says it does
23. Money must be easily divided into small parts so that people can purchase goods and services at any price; this meets which characteristic?
24. Why is a savings account a smart idea?
25. Buying and selling government bonds (securities) by the Federal Reserve is called
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