Which of the following is not a function of money?
A. Store of wealth
B. Medium of exchange
C. Unit of account
D. Equity instrument
Answer: D
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For any new deposits into the banking system, the deposit expansion multiplier provides
A) no useful information regarding the potential expansion of the nation's money supply. B) an exact prediction of the expansion of the nation's money supply. C) a theoretical limit on the potential expansion of the nation's money supply. D) an argument that deposits don't effect the nation's money supply at all.
The real-balance effect indicates that at higher price levels
A. the value of the dollar will increase. B. the purchasing power of money will increase. C. the real value of money holdings increase, resulting in increased saving. D. the real value of money holdings fall, resulting in decreased spending.
If the Fed reduces the money supply to reduce inflation, a floating exchange rate will aid the Fed in fighting inflation because
A. as the money supply is decreased, the interest rate will increase, and the price of U.S. exports will fall and the price of U.S. imports will rise. B. as the money supply is decreased, the interest rate will increase, and the price of U.S. exports will rise and the price of U.S. imports will fall. C. as the money supply is decreased, the interest rate will increase, and the price of U.S. exports and U.S. imports will fall. D. as the money supply is decreased, the interest rate will increase, and the price of both U.S. exports and U.S. imports will rise.
Other things being equal, you can make $20,000 a year teaching, $25,000 a year typing, $30,000 a year driving a cab, and $40,000 a year as a chef. You have a comparative advantage in
A) teaching. B) driving a cab. C) being a chef. D) one of them but we need more information to know which.