1 Characteristics of Money

A publicly owned, privately controlled, central bank of the US

A privately owned, publicly controlled, central bank of the US

A privately owned, privately controlled, central bank of the US

A publicly owned, publicly controlled, central bank of the US

Money that has no alternative use

Money that has an alternative use as an economic good

Money that is only used for trading

Money that is backed by gold

By using money to buy the shoes

By trading the milk directly for the shoes

By finding someone who wants milk and has fish to trade with the cobbler

By borrowing the shoes and promising to pay later

Money that has intrinsic value

Money that is backed by gold

Money by government decree with no alternative value or use as a commodity

Money that is used only in international trade

Trade between the colonies, Africa, and the Caribbean Islands

Trade between Europe, Asia, and Africa

Trade between North America, South America, and Europe

Trade between the colonies, Europe, and Asia

It is lightweight and easily transferred from one person to another.

It doesn't deteriorate when handled.

Metallic coins last about 18 months.

It is difficult to transfer from one person to another.

Money must be available, but be in limited supply

Money can be divided into smaller units so people can only use as much as they need

Money must be durable and long-lasting

Money must be universally accepted

Exchange goods and services

Measure value in dollars and cents

Preserve value for future use

Produce goods

An account whose funds can be removed by writing a check or using a debit card

An account used for long-term savings

An account that earns interest over time

An account used exclusively for online transactions

A narrow definition of money supply conforming to money’s role as a medium of exchange

A broad definition of money supply conforming to money’s role as a medium of exchange and a store of value

A measure including only coins and currency

A measure excluding traveler’s checks

A broad definition of money supply including M1 plus savings deposits, time deposits, and money market funds

A narrow definition of money supply conforming to money’s role as a medium of exchange

A measure including only coins and currency

A measure excluding traveler’s checks