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How can we help? What is your email? Upgrade to remove ads. To say money is socially defined means that: If you are estimating your total expenses for school next semester, you are using money primarily as: If you place a part of your summer earning in a savings account, you are using money primarily as a: If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as: Stock market price quotations best exemplify money serving as a n: Purchasing common stock by writing a check best exemplifies money serving as a n: When economists say that money serves as a medium of exchange, they mean that it is: When economist say that money serves as a unit of account, they mean that it is: When economists say that money serves as a store of value, they mean that it is: The paper money used in the United States is: In the United States, the money supply M1 is compromised of: Currency held in the vault of the First National Bank is: Checkable deposits are classified as money because: Currency paper money plus coins constitutes about: In January , the supply of money M1 in the United States was about: To say that coins are "token money" means that: In define money as M1, economists exclude time deposits because: Which of the following is not part of the M2 money supply?

The M2 money supply includes: A checking account entry is money because it: Currency in circulation is part of: M2 not including M1. Money market deposits accounts are included in: The amount of money reported as M2: The largest component of the money supply M1 is: Paper money currency in the United States is issued by the: Coins in people's pockets and purses are: Coins held in commercial banks are: The difference between M1 and M2 is that: M1 money supply will decline.

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M1 money supply will not change. M2 money supply will decline. M2 money supply will increase. M1 money supply will decline and M2 money supply will remain unchanged. M1 and M2 money supplies will not change.

stock market price quotations best exemplify money serving as an

M1 money supply will increase and M2 money supply will remain unchanged. M1 and M2 money supplies will both decline. M2 money supply will increase and the M1 money supply will decrease. Small-denominated time deposits, by definition: The near-money components of M2 are: Currency held within banks is part of: The money supply is backed: Which of the following does not explain what back the money supply in the United States?

It is back by gold. It is widely accepted in transactions.

stock market price quotations best exemplify money serving as an

It is designated "legal tender" by the Federal government. It is relatively scarce. Suppose that the Federal government suddenly declared that wheat was to be used as money.

econ final Flashcards | Quizlet

What is a possible outcome of that decision? The value of the "wheat dollar" would be unstable depending on crop yields from year to year.

Farmers would replace corn and soy crops with wheat. Wheat would function as money so long as people accept it in exchange for goods and services.

All of these are possible outcomes. The purchasing power of money and the price level vary: The value if money varies: If the price index rises from to , the purchasing power values of the dollar: The purchasing power of the dollar: The basic policy-making body in the U.

Federal Open Market Committee FOMC. Board of Governors of the Federal Reserve. Council of Economic Advisers. The Federal Reserve System was created in: Senate Committee on Banking and Finance.

As it relates to the Federal Reserve activities, the acronym FOMC describes the: Federal Open Market Committee. Federal Options Market Committee.

Federal Organization for Monetary Control. Federal Organization for Money Creation. The Federal Open Market Committee FOMC is made up of: Which of the following is true about the U. There are 12 regional Federal Reserve Banks. The head of the U. Treasury also chairs the Federal Reserve Board. There are 14 members of the Federal Reserve Board.

The Open Market Committee is smaller in size than the Federal Reserve Board. The member of the Federal Reserve Board: An important function of the Federal Reserve Bank is to: Which of the following statements best describe the twelve Federal Reserve Banks?

Stock market price quotations best exemplify money serving as a:

They are privately owned and privately controlled central banks whose basic goal is to provide an ample and orderly market for U. They are privately owned and publicly controlled central banks whose basic function is to minimize the risks in commercial banking in order to make it a reasonably profitable industry.

They are privately owned and publicly controlled central banks whose basic goal is to control the money supply and interest rates in promoting the general economic welfare.

They are privately owned and publicly controlled central banks whose basic goal is to earn profits for their owners. The seven members of the Board of Governors of the Federal Reserve System are: Which of the following is the basic economic policy function of the Federal Reserve Banks? The Federal Reserve System:

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