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ECON2 Chapter 10 Test

Enter the letter for the matching Answer
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1.
is anything that people will accept in exchange for goods and services.
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2.
is a system that backs the basic monetary unit with a set amount of gold.
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3.
is declared by the government and accepted by citizens to have worth.
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4.
represents money that the holder has on deposit with the issuer.
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5.
is paper money and coins.
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6.
determines the economic worth in the exchange process.
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7.
is the exchange of goods and services without using money.
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8.
is an electronic device that allows bank customers to make transactions without seeing a bank officer.
A.
Money
B.
Barter
C.
Currency
D.
Fiat money
E.
gold standard
F.
standard of value
G.
stored-value card
H.
automated teller machine (ATM)
Type the Answer that corresponds to the displayed Question.
incorrect
9.
are checking accounts.
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10.
has intrinsic value based on the material from which it is made.
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11.
is backed by something tangible
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12.
are banks chartered by the national government.
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13.
is something that holds its value over time.
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14.
is savings accounts and time depos- its that can be converted into cash relatively easily.
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15.
is a bank chartered by a state government.
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16.
can be used like an ATM card or like a check.
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17.
is a means through which goods and services can be exchanged.

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