AnswersFall 24 Personal Finance and Economics ICInflation and Stagflation

Money Answers

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1
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What does it mean to say that money is divisible?

A
There is a limited supply of money available.
B
Money is easy to carry from place to place.
C
Larger denominations of coins and bills can be exchanged for smaller denominations.
D
Money is accepted as a way to make a payment anywhere in the US.
2
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In the United States today, what gives money its value?

A
People trust that dollars are valuable.
B
Dollars are backed by gold and silver.
C
Dollars can be exchanged for a precious commodity.
D
Money has a representative value.
3

What does the statement "This note is legal tender for all debts, public and private” guarantee?

A
US currency is backed by gold.
B
US currency is backed by silver.
C
US currency is a way of obtaining legal credit.
D
US currency has value backed by the federal government.
4

Which phrase best defines the liquidity of money?

A
how divisible money is
B
how many denominations money has
C
how scarce the supply of money is
D
how available money is to spend
5

✔ M1M2

Answers:
More liquid categories of money are part of .Less liquid categories are included in .:M1
More liquid categories of money are part of .Less liquid categories are included in .:M2

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Inflation and Stagflation

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