Money is used as a ________ when you visit the local farmers' market and compare prices across different vendors
A) means of payment
B) unit of account
C) store of value
D) medium of exchange
E) measure of barter
B
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When the domestic currency strengthens under a fixed exchange-rate system, this is called
A) a depreciation. B) an appreciation. C) a devaluation. D) a revaluation.
If in the long run, any government policy that increases exports
A) also increases imports. B) decreases imports. C) has no impact on imports. D) makes imports become negative.
A banking panic occurs when
a. many banks fail simultaneously b. banks do not earn enough profit c. a bank exhausts all of its vault cash d. individuals cannot withdraw money from a bank e. bank officials fear they have made too many bad loans
Widespread use of credit cards
a. will increase the M1 money supply figures. b. will increase the M2 money supply figures but not those for M1. c. tends to reduce the average quantity of money that people will choose to hold. d. tends to increase the average quantity of money that people will choose to hold.