201Exam2-Fall 2017 ord t References Mailings Review View ?Tell me what you want

Question

201Exam2-Fall 2017 ord t References Mailings Review View ?Tell me what you want to do 8) Money today A) is the demand for loanable funds B) is the supply of loanable funds. C) is only currency inside banks. D) is fiat money E) in the United States, is only dollar bills and coins 9) The objects we use as money today include A) currency inside banks and bank deposits B) currency outside the banks and bank deposits C) only currency outside the banks. D) only deposits inside the banks. E) credit cards and debit cards. 10) A credit card is A) money B) barter money C) not money D) fiat money E) not money, but the card's credit line is money 11) When you use a credit card to pay your tuition, A) you've used the credit card as money because it is a means of payment B) the credit card is not money but is an ID card for an instant loan C) the credit card is not money because it involves an electronic transaction. D) the credit card is not money because it is not officially issued by the sovernment E) you've used the credit card as money because you received something in return 12) Debit cards and e-checks are not money because A) they can be forged easily B) they can fail their purpose of being mediums of exchange as a result of technical difficulties C) they are just instruments to transfer money between people. D) not all banks offer them and not all businesses accept them. E) they are not regulated by the govemment

Explanation / Answer

1- fiat money is the money that is issued by the government as legal tender, and it is not backed up by any physical commpodityu like gold etc, so answer is fiat money.

2- the objects we use as money today are currency, deposits, credit cars, debit cards, here all the options are incomplete the best one we can choose is E

3- credit carss are the plastic cards, we use itto complete our transactionsthey are used as a medium of exchange at any shop, thus they can be called as money.

so answer is A

4- in case we pay the tuition fees we are using credit card as momney because we have used the credit card as a medium of exchange for the transacton we have performed.

sthus answer is A

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