经济学原理对应练习(共43页).doc

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1、精选优质文档-倾情为你奉上Chapter 29The Monetary SystemMultiple Choice1.Moneya.is more efficient than barter.b.makes trades easier.c.allows greater specialization.d.All of the above are correct.ANS: DPTS: 1DIF: 1REF: 29-1TOP: MoneyMSC: Definitional2.When we say that trade is roundabout we mean thata.people somet

2、imes trade goods for goods.b.trades require a double coincidence of wantsc.currency is accepted primarily to make further trades.d.people must spend time searching for the products they wish to purchase.ANS: CPTS: 1DIF: 1REF: 29-1TOP: TradeMSC: Definitional3.Paper moneya.has a high intrinsic value.b

3、.is the primary medium of exchange in a barter economy.c.is valuable because it is generally accepted in trade.d.is valuable only because of the legal tender requirement.ANS: CPTS: 1DIF: 1REF: 29-1TOP: MoneyMSC: DefinitionalConsider four survivors on an island.Ruperthas machetewants fishing spearAmb

4、erhas cooking potwants fishing spearRobhas fishing spearwants macheteTomhas cooking potwants machete4.Which of the following pairs have a double-coincidence of wants with each other?a.Rupert with Amber, and Rob with Tomb.Amber with Tomc.Rupert with Robd.None of the above have a double-coincidence of

5、 wants.ANS: CPTS: 1DIF: 1REF: 29-1TOP: Double-coincidence of wantsMSC: ApplicativeConsider the following traders who meet.Bobhas an applewants an orangeTedhas an orangewants a peachMaryhas a pearwants an appleAlicehas a peachwants an orange5.Which if any pairs have a double coincidence of wants?a.Bo

6、b with Aliceb.Ted with Alicec.Bob with Mary, Ted with Bob, and Ted with Alice d.None of the pairs above have a coincidence of wants with each otherANS: BPTS: 1DIF: 1REF: 29-1TOP: Double-coincidence of wantsMSC: Applicative6.The existence of money leads to a.greater specialization in production, but

7、not a higher standard of living.b.a higher standard of living, but not greater specialization.c.greater specialization and a higher standard of living.d.neither greater specialization or a higher standard of living.ANS: CPTS: 1DIF: 1REF: 29-1TOP: MoneyMSC: Definitional7.Changes in the quantity of mo

8、ney affecta.interest ratesb.pricesc.productiond.All of the above are correctANS: DPTS: 1DIF: 1REF: 29-1TOP: Monetary policyMSC: Definitional8.Which of the following is a store of value?a.currencyb.U.S. government bondsc.fine artd.All of the above are correct.ANS: DPTS: 1DIF: 1REF: 29-1TOP: Store of

9、valueMSC: Interpretive9.Which of the following best illustrates the unit of account function of money?a.You list prices for candy sold on your Web site, , in dollars.b.You pay for your WNBA tickets with dollars.c.You keep $10 in your backpack for emergencies.d.None of the above is correct.ANS: APTS:

10、 1DIF: 1REF: 29-1TOP: Unit of accountMSC: Interpretive10.The “yardstick” people use to post prices and record debts is calleda.a medium of exchange.b.a unit of account.c.a store of value.d.liquidity.ANS: BPTS: 1DIF: 1REF: 29-1TOP: Unit of accountMSC: Definitional11.Mia puts money into a piggy bank s

11、o she can spend it later. What function of money does this illustrate?a.store of valueb.medium of exchangec.unit of accountd.None of the above is correct.ANS: APTS: 1DIF: 1REF: 29-1TOP: Store of valueMSC: Interpretive12.Which of the following best illustrates the medium of exchange function of money

12、?a.You keep some money hidden in your shoe.b.You keep track of the value of your assets in terms of currency.c.You pay for your double latte using currency.d.None of the above is correct.ANS: CPTS: 1DIF: 1REF: 29-1TOP: Medium of exchangeMSC: Interpretive13.You get money for babysitting the neighbors

13、 children. This best illustrates which function of money?a.medium of exchangeb.unit of accountc.store of valued.liquidityANS: APTS: 1DIF: 1REF: 29-1TOP: Medium of exchangeMSC: Definitional14.Which of the following is a function of money?a.a unit of accountb.a store of valuec.medium of exchanged.All

14、of the above is correct.ANS: DPTS: 1DIF: 1REF: 29-1TOP: MoneyMSC: Definitional15.An item that people can use to transfer purchasing power from the present to the future is calleda.a medium of exchange.b.a unit of account.c.a store of value.d.None of the above is correct.ANS: CPTS: 1DIF: 1REF: 29-1TO

15、P: Store of valueMSC: Definitional16.Treasury Bonds area.liquid, but not a store of value.b.a store of value, but not liquid.c.both liquid and a store of value.d.neither liquid nor a store of valueANS: CPTS: 1DIF: 1REF: 29-1TOP: Liquidity | Store of valueMSC: Interpretive17.Which of the following fu

16、nctions of money is also a common function of most other financial assets?a.a unit of accountb.a store of valuec.medium of exchanged.None of the above is correct.ANS: BPTS: 1DIF: 1REF: 29-1TOP: Store of valueMSC: Definitional18.Economists use the word money to refer toa.income generated by the produ

17、ction of goods and services.b.those assets regularly used to buy goods and services.c.the value of a persons assets.d.the value of stocks and bonds.ANS: BPTS: 1DIF: 1REF: 29-1TOP: MoneyMSC: Definitional19.Liquidity refers toa.the ease with which an asset is converted to the medium of exchange.b.a me

18、asurement of the intrinsic value of commodity money.c.the suitability of an asset to serve as a store of value.d.how many time a dollar circulates in a given year.ANS: APTS: 1DIF: 1REF: 29-1TOP: LiquidityMSC: Definitional20.Which list ranks assets from most to least liquid?a.currency, fine art, stoc

19、ksb.currency, stocks, fine artc.fine art, currency, stocksd.fine art, stocks, currencyANS: BPTS: 1DIF: 1REF: 29-1TOP: LiquidityMSC: Definitional21.Current U.S. currency isa.fiat money with intrinsic value.b.fiat money with no intrinsic modity money with intrinsic modity money with no intrinsic value

20、.ANS: BPTS: 1DIF: 1REF: 29-1TOP: Commodity money | Fiat moneyMSC: Definitional22.Fiat moneya.has no intrinsic value.b.is backed by gold.c.has intrinsic value equal to its value in exchange.d.is any close substitute for currency such as checkable deposits.ANS: APTS: 1DIF: 1REF: 29-1TOP: Fiat moneyMSC

21、: Definitional23.Commodity money isa.backed by gold.b.the principal type of money in use today.c.money with intrinsic value.d.receipts created in international trade that are used as a medium of exchange.ANS: CPTS: 1DIF: 1REF: 29-1TOP: Commodity moneyMSC: Definitional24.Fiat moneya.is worthless.b.ha

22、s no intrinsic value.c.may be used as a medium of exchange, but is not legal tender.d.performs all the functions of money except providing a unit of account.ANS: BPTS: 1DIF: 1REF: 29-1TOP: Fiat moneyMSC: Definitional25.Which type of currency has intrinsic value?modity moneyb.fiat moneyc.both commodi

23、ty money and fiat moneyd.neither commodity money nor fiat moneyANS: APTS: 1DIF: 1REF: 29-1TOP: Commodity moneyMSC: Definitional26.If an economy used gold as money, its money would modity money, but not fiat money.b.fiat money, but not commodity money.c.both fiat and commodity money.d.neither fiat no

24、r commodity money.ANS: APTS: 1DIF: 1REF: 29-1TOP: Fiat money | Commodity moneyMSC: Definitional27.The legal tender requirement means thata.people are more likely to accept the dollar as a medium of exchange.b.the government must hold enough gold to redeem all currency.c.people may not make trades wi

25、th anything else.d.All of the above are correct.ANS: APTS: 1DIF: 1REF: 29-1TOP: Legal tender requirementMSC: Definitional28.M1 equals currency + demand deposits +a.nothing else.b.other checkable deposits.c.travelers checks + other checkable deposits.d.travelers checks + other checkable deposits + sa

26、vings deposits.ANS: CPTS: 1DIF: 1REF: 29-1TOP: M1MSC: Definitional29.M1 includesa.currency.b.demand deposits.c.travelers checks.d.All of the above are correct.ANS: DPTS: 1DIF: 1REF: 29-1TOP: M1MSC: Definitional30.Which of the following is not included in M1?a.currencyb.demand depositsc.savings depos

27、itsd.travelers checksANS: CPTS: 1DIF: 1REF: 29-1TOP: M1MSC: Definitional31.Which of the following is not included in M1?a.currencyb.demand depositsc.travelers checksd.credit cardsANS: DPTS: 1DIF: 1REF: 29-1TOP: M1MSC: Definitional32.Which of the following is included in M2 but not in M1?a.currencyb.

28、demand depositsc.savings depositsd.All of the above are included in both M1 and M2ANS: CPTS: 1DIF: 1REF: 29-1TOP: M2 | M1MSC: Definitional33.Which of the following is included in M2 but not in M1?a.demand depositsb.corporate bondsc.large time depositsd.money market mutual fundsANS: DPTS: 1DIF: 2REF:

29、 29-1TOP: M2 | M1MSC: Definitional34.Which of the following isnt included in either M1 or M2?a.U.S. Treasury billsb.small time depositsc.demand depositsd.money market mutual fundsANS: APTS: 1DIF: 2REF: 29-1TOP: M2 | M1MSC: Definitional35.Which of the following is included in the M2 definition of the

30、 money supply?a.credit cardsb.money market mutual fundsc.corporate bondsd.large time depositsANS: BPTS: 1DIF: 1REF: 29-1TOP: M2MSC: Definitional36.Money market mutual funds are included ina.M1 but not M2.b.M1 and M2.c.M2 but not M1.d.neither M1 or M2.ANS: CPTS: 1DIF: 1REF: 29-1TOP: M1 | M2MSC: Defin

31、itional37.Demand deposits are a type ofa.checking account.b.time deposit.c.money market mutual fund.d.savings deposit.ANS: APTS: 1DIF: 1REF: 29-1TOP: Demand depositsMSC: Definitional38.Demand deposits are included ina.M1 but not M2.b.M2 but not M1.c.M1 and M2.d.neither M1 nor M2.ANS: CPTS: 1DIF: 1RE

32、F: 29-1TOP: M1 | M2MSC: Definitional39.Credit card limits are included ina.M1 but not M2.b.M2 but not M1.c.M1 and M2.d.neither M1 nor M2.ANS: DPTS: 1DIF: 1REF: 29-1TOP: M1 | M2MSC: Definitional40.Savings deposits are included ina.M1 but not M2.b.M2 but not M1.c.M1 and M2.d.neither M1 nor M2.ANS: BPT

33、S: 1DIF: 1REF: 29-1TOP: M1 | M2MSC: Definitional41.Which of the following is included in both M1 and M2?a.savings depositsb.demand depositsc.small time depositsd.money market mutual fundsANS: BPTS: 1DIF: 1REF: 29-1TOP: M1 | M2MSC: Definitional42.Credit cardsa.defer payments.b.are a store of value.c.

34、have led to wider use of currency.d.are part of the money supply.ANS: APTS: 1DIF: 1REF: 29-1TOP: Credit cardsMSC: Definitional43.Credit cardsa.are included in M1 but not M2.b.are included in M1 and M2.c.are included in M2 but not M1d.are not included in any measure of the money supply.ANS: DPTS: 1DI

35、F: 1REF: 29-1TOP: Credit cardsMSC: Definitional44.Debit cardsa.defer payments.b.are equivalent to credit cards.c.are included in M2.d.are used as a method of payment.ANS: DPTS: 1DIF: 1REF: 29-1TOP: Debit cardsMSC: Definitional45.Which of the following defer payments?a.credit cards and debit cardsb.n

36、either credit cards or debit cardsc.credit cards but not debit cardsd.debit cards but not credit cardsANS: CPTS: 1DIF: 1REF: 29-1TOP: Credit cards | Debit cardsMSC: DefinitionalUse the (hypothetical) information in the following table to answer the following Questions.Table 29-1Type of MoneyAmountLa

37、rge time deposits$80 billionSmall time deposits$75 billionDemand deposits$75 billionOther checkable deposits$40 billionSavings deposits$10 billionTravelers checks$1 billionMoney market mutual funds$15 billionCurrency$100 billionSDRs$10 billionMiscellaneous categories of M2$25 billion46.Refer to Tabl

38、e 29-1. What is the M1 money supply?a.$215 billionb.$216 billionc.$226 billiond.$301 billionANS: BPTS: 1DIF: 2REF: 29-1TOP: M1MSC: Applicative47.Refer to Table 29-1. What is the M2 money supply?a.$125 billionb.$341 billionc.$421 billiond.$431 billionANS: BPTS: 1DIF: 2REF: 29-1TOP: M2MSC: Applicative

39、48.Given the following information, what would be the values of M1 and M2?Small time deposits$650 billionDemand Deposits and other Checkable Deposits$300 billionSavings-type deposits$750 billionMoney market mutual funds$600 billionTravelers checks$25 billionLarge time deposits$600 billionCurrency$10

40、0 billionMiscellaneous Categories in M2$25 billiona.M1 = $400 billion, M2 = $2,475 billion.b.M1 = $125 billion, M2 = $3,025 billion.c.M1 = $425 billion, M2 = $2, 450 billion.d.M1 = $425 billion, M2 = $1,875 billion.ANS: CPTS: 1DIF: 2REF: 29-1TOP: M1MSC: Definitional49.The amount of currency per pers

41、on in the United States is abouta.$200.b.$800.c.$1,600.d.$3,100.ANS: DPTS: 1DIF: 1REF: 29-1TOP: Currency holdingsMSC: Definitional50.In the US there is about $3,100 ofa.currency per person.b.demand deposits per person.c.M1 per person.d.M2 per person.ANS: APTS: 1DIF: 1REF: 29-1TOP: Currency holdingsM

42、SC: Definitional51.Which of the following might explain why the United States has so much currency per person?a.U.S. citizens are holding a lot of foreign currency.b.Currency may be a preferable store of wealth for criminals.c.People use credit and debit cards more frequently.d.All of the above help

43、 explain the abundance of currency.ANS: BPTS: 1DIF: 1REF: 29-1TOP: Currency holdingsMSC: Definitional52.In the United States, per persona.average currency holdings are about $800. One explanation for this relatively small average is that money people use credit and debit cards to make transactions.b

44、.average currency holdings are about $800. One explanation for this relatively small average is that U.S. citizens hold a lot of foreign currency.c.average holdings of currency are about $3,100. One explanation for this relatively large amount is that criminals may prefer currency as a medium of exc

45、hange.d.average holdings are about $3,100. One explanation for this relatively large average is that U.S. citizens hold a lot of foreign currency.ANS: CPTS: 1DIF: 1REF: 29-1TOP: Currency holdingsMSC: Definitional53.One puzzle about the U.S. money stock is thata.banks hold so much currency relative to the public.b.the pub