moneyandbanktestbankchap03复习过程.docx

1、moneyandbanktestbankchap03复习过程money-and-bank-test-bank-chap03The Economics of Money, Banking, and Financial Markets, 9e (Mishkin)Chapter 3 What Is Money?3.1 Meaning of Money1) To an economist, _ is anything that is generally accepted in payment for goods and services or in the repayment of debt.A) w

2、ealthB) incomeC) moneyD) creditAnswer: CQues Status: Previous Edition2) Money isA) anything that is generally accepted in payment for goods and services or in the repayment of debt.B) a flow of earnings per unit of time.C) the total collection of pieces of property that are a store of value.D) alway

3、s based on a precious metal like gold or silver.Answer: AQues Status: Previous Edition3) Currency includesA) paper money and coins.B) paper money, coins, and checks.C) paper money and checks.D) paper money, coins, checks, and savings deposits.Answer: AQues Status: Previous Edition4) Even economists

4、have no single, precise definition of money becauseA) money supply statistics are a state secret.B) the Federal Reserve does not employ or report different measures of the money supply.C) the moneyness or liquidity of an asset is a matter of degree.D) economists find disagreement interesting and ref

5、use to agree for ideological reasons.Answer: CQues Status: Revised5) The total collection of pieces of property that serve to store value is a persons A) wealth.B) income.C) money.D) credit.Answer: AQues Status: New6) A persons house is part of herA) money.B) income.C) liabilities.D) wealth.Answer:

6、DQues Status: Previous Edition7) _ is used to make purchases while _ is the total collection of pieces of property that serve to store value.A) Money; incomeB) Wealth; incomeC) Income; moneyD) Money; wealthAnswer: DQues Status: Previous Edition8) _ is a flow of earnings per unit of time.A) IncomeB)

7、MoneyC) WealthD) CurrencyAnswer: AQues Status: Previous Edition9) An individuals annual salary is herA) money.B) income.C) wealth.D) liabilities.Answer: BQues Status: Previous Edition10) When we say that money is a stock variable, we mean that A) the quantity of money is measured at a given point in

8、 time.B) we must attach a time period to the measure.C) it is sold in the equity market.D) money never loses purchasing power.Answer: AQues Status: New11) The difference between money and income is thatA) money is a flow and income is a stock.B) money is a stock and income is a flow.C) there is no d

9、ifference money and income are both stocks.D) there is no difference money and income are both flows.Answer: BQues Status: Previous Edition12) Which of the following is a true statement?A) Money and income are flow variables.B) Money is a flow variable.C) Income is a flow variable.D) Money and incom

10、e are stock variables.Answer: CQues Status: Revised13) Which of the following statements uses the economists definition of money?A) I plan to earn a lot of money over the summer.B) Betsy is rich she has a lot of money.C) I hope that I have enough money to buy my lunch today.D) The job with New Compa

11、ny gave me the opportunity to earn more money.Answer: CQues Status: Previous Edition3.2 Functions of Money1) Of moneys three functions, the one that distinguishes money from other assets is its function as aA) store of value.B) unit of account.C) standard of deferred payment.D) medium of exchange.An

12、swer: DQues Status: Previous Edition2) If peanuts serve as a medium of exchange, a unit of account, and a store of value, then peanuts areA) bank deposits.B) reserves.C) money.D) loanable funds.Answer: CQues Status: Previous Edition3) _ are the time and resources spent trying to exchange goods and s

13、ervices.A) Bargaining costs.B) Transaction costs.C) Contracting costs.D) Barter costs.Answer: BQues Status: Previous Edition4) Compared to an economy that uses a medium of exchange, in a barter economyA) transaction costs are higher.B) transaction costs are lower.C) liquidity costs are higher.D) liq

14、uidity costs are lower.Answer: AQues Status: Previous Edition5) When compared to exchange systems that rely on money, disadvantages of the barter system include:A) the requirement of a double coincidence of wants.B) lowering the cost of exchanging goods over time.C) lowering the cost of exchange to

15、those who would specialize.D) encouraging specialization and the division of labor.Answer: AQues Status: Previous Edition6) The conversion of a barter economy to one that uses moneyA) increases efficiency by reducing the need to exchange goods and services.B) increases efficiency by reducing the need to specialize.C) increases efficiency by reducing transactions costs.D) does not increase economic efficiency.Answer: CQues Status: Previous Edition7) Which of the followi