on Chapter 1 × Q ECON 101 ch, 29 mc F1 cure e/launch jsp?course_assessment_id\"-

Question

on Chapter 1 × Q ECON 101 ch, 29 mc F1 cure e/launch jsp?course_assessment_id"-128031_1&course-ide-98758-1;&content;_id".21. Status QUESTION 3 Ryan saved $50,000 last year in his bank account so that he could OA medium of exchange O B. store of value O D.means of deferred payment QUESTION 4 The "gold-standard" is a system in which: OA paper currency is backed by gold B. pcople use gold as a medium of exchange. Oc.gold mining firms own the right to print currency D. gold is imported into the US, in exchange of paper currency. QUESTION 5 )In the United States, money supply is most commonly referred to as OA M1 D.M4

Explanation / Answer

Question 3 Option B store of value.

One function of money is the store of value. Money can be stored and used to pay for goods purchased, it has a store of value. It is not be bulky to carry and can be crafted into equal volume/size pieces.

Question 4 Option A paper currency is backed by gold

When a nation has gold standard, it has to tie its value of money with the amount of gold available in the country. US ended its gold standard in 1971. One advantage of gold standard is that the value of money is backed against the fixed amount of gold so its value remains fixed.

Question 5 Option A M1

It is the most common measure comprising of traveler's check, deposits, currency in circulation etc,

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