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Question Bank - Economics

Money: Introduction

Q1. Money is

(Select one answer)

(a) * the same as income.
(b) * anything that is generally accepted as a medium of exchange.
(c) * the value of all coins and currency in circulation at any time.
(d) * all of the above.

Source: Pearson logo

Q2. To say money is a store of value means

(Select one answer)

(a) * the value of money is not affected by inflation
(b) * it facilitates purchases and sales
(c) * it is a way of saving purchasing power to be used when needed
(d) * all the above

Source: McGraw Hill logo

Q3. Which of the following is not a function of money?

(Select one answer)

(a) * a medium of exchange
(b) * a unit of account
(c) * a shelter against inflation
(d) * a store of value

Source: McGraw Hill logo

Q4. The opportunity cost of holding money is determined by

(Select one answer)

(a) * the inflation rate.
(b) * the level of aggregate output.
(c) * the interest rate.
(d) * the discount rate.

Source: Pearson logo

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