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© 2014 Pearson Canada Inc.#
Money is ____.
A) the same as currency
B) anything that is generally accepted in payment of goods or services or in the repayment of
debts
C) not used as a unit of account
D) defined as paper money and coins
Answer: B
Diff: 1 Type: MC Page Ref: 46
Skill: Recall
Objective List: 3.1 Describe the meaning of the word money
Currency includes ____.
A) paper money and coins
B) paper money, coins, and cheques
C) paper money and cheques
D) paper money, coins, cheques, and savings deposits
Answer: A
Diff: 1 Type: MC Page Ref: 46
Skill: Recall
Objective List: 3.1 Describe the meaning of the word money
There is no single precise measure of money or the money supply for economists because
____.
A) the government considers money supply statistics to be confidential and refuses to publish
them
B) deciding what is generally accepted in payment for goods and services or in the repayment of
debt is difficult to determine
C) economists cannot agree if currency should be considered money
D) definitions change all the time
Answer: B
Diff: 2 Type: MC Page Ref: 47
Skill: Recall
Objective List: 3.1 Describe the meaning of the word money
Even economists have no single, precise definition of money because ____.
A) money supply statistics are a state secret
B) the Bank of Canada does not employ or report different measures of the money supply
C) the "moneyness" or liquidity of an asset is a matter of degree
D) economists find disagreement interesting and refuse to agree for ideological reasons
Answer: C
Diff: 2 Type: MC Page Ref: 47
Skill: Recall
Objective List: 3.1 Describe the meaning of the word money