Name: __________________________ Date: _____________
1. Economists use the term money to refer to: A) income. B) profits.
C) assets used for transactions. D) earnings from labor.
2. Macroeconomists call assets used to make transactions: A) real income. B) nominal income. C) money.
D) consumption.
3. All of the following are considered major functions of money except as a: A) medium of exchange. B) way to display wealth. C) unit of account. D) store of value.
4. People use money as a store of value when they:
A) hold money to transfer purchasing power into the future. B) use money as a measure of economic transactions. C) use money to buy goods and services. D) hold money to gain power and esteem.
5. People use money as a unit of account when they:
A) hold money to transfer purchasing power into the future. B) use money as a measure of economic transactions. C) use money to buy goods and services. D) hold money to gain power and esteem.
6. People use money as a medium of exchange when they:
A) hold money to transfer purchasing power into the future. B) use money as a measure of economic transactions. C) use money to buy goods and services. D) hold money to gain power and esteem.
7. When a pizza maker lists the price of a pizza as $10, this is an example of using money as a:
A) store of value. B) unit of account.
C) medium of exchange. D) flow of value.
8. Money's liquidity refers to the ease with which: A) coins can be melted down.
B) illegally obtained money can be laundered. C) loans can be floated.
D) money can be converted into goods and services.
9. To make a trade in a barter economy requires: A) currency. B) a check. C) scrip.
D) a double coincidence of wants.
10. Money that has no value other than as money is called ______ money.
A) fiat B) intrinsic C) commodity D) government
11. A country that is on a gold standard primarily uses:
A) commodity money. B) fiat money. C) credit money. D) the barter system.
12. In prisoner of war camps during World War II, the “currency” used was:
A) chocolates. B) cigarettes. C) gold. D) IOUs.
13. An important factor in the evolution of commodity money to fiat money is:
A) a desire to reduce transaction costs. B) a desire to increase transaction costs.
C) the fact that gold is no longer highly valued. D) a desire to use gold for jewelry.
14. The use of fei as money on the island of Yap illustrates the idea of money as a social
convention because:
A) only fei physically in the possession of the owner is accepted in transactions.
B) legal claim to a fei never seen by current generations was accepted in transactions. C) the central bank of Yap accepts fei in exchange for paper certificates.
D) the government of Yap verifies the authenticity of fei used for transactions.
15. In a country on a gold standard, the quantity of money is determined by the:
A) government. B) central bank. C) amount of gold.
D) buying and selling of government securities.
16. The quantity of money in the United States is essentially controlled by the:
A) President of the United States. B) Department of the Treasury. C) Federal Reserve.
D) system of commercial banks.
17. The central bank in the United States is the:
A) Bank of America. B) U.S. Treasury.
C) U.S. National Bank. D) Federal Reserve.
18. In the United States, monetary policy is controlled by:
A) the President. B) the Congress.
C) the Federal Reserve.
D) the Treasury Department.
19. To increase the money supply, the Federal Reserve:
A) buys government bonds. B) sells government bonds. C) buys corporate stocks. D) sells corporate stocks.
20. To reduce the money supply, the Federal Reserve:
A) buys government bonds. B) sells government bonds. C) creates demand deposits. D) destroys demand deposits.
21. Open-market operations are:
A) Commerce Department efforts to open foreign markets to international trade. B) Federal Reserve purchases and sales of government bonds.
C) Securities and Exchange Commission rules requiring open disclosure of market
trades.
D) Treasury Department purchases and sales of the U.S. gold stock.
22. Currency equals:
A) M1.
B) the sum of funds in checking accounts.
C) the sum of checking accounts and paper money. D) the sum of coins and paper money.
23. Demand deposits are funds held in:
A) currency.
B) certificates of deposit. C) checking accounts. D) money markets.
24. All of the following assets are included in M1 except:
A) currency.
B) demand deposits. C) traveler's checks.
D) money market deposit accounts.
25. Money market mutual fund shares are included in:
A) M1 only. B) M2 only.
C) both M1 and M2. D) neither M1 nor M2.
26. Credit card balances are included in:
A) M1 only. B) M2 only.
C) both M1 and M2. D) neither M1 nor M2.
27. Checking account balances that are linked to debit cards are included in:
A) M1.
B) M2 only.
C) both M1 and M2. D) neither M1 nor M2.
28. Credit cards:
A) are part of the M1 money supply. B) are part of the M2 money supply.
C) are part of both the M1 and M2 money supply. D) do not affect the money supply.
29. Payment is deferred by using _______, but immediate access to funds occurs when
using ______.
A) currency; demand deposits B) credit cards; debit cards
C) demand deposits; savings deposits D) debit cards; credit cards
30. In the United States, the money supply is determined:
A) only by the Fed.
B) only by the behavior of individuals who hold money and of banks in which money
is held.
C) jointly by the Fed and by the behavior of individuals who hold money and of banks
in which money is held.
D) according to a constant-growth-rate rule.
(完整版)中级宏观经济学付费版题库4经济增长Ⅰ
