#1
Which of the following is NOT a characteristic of money?
Divisibility
Durability
Subjectivity
Portability
#2
What characteristic of money refers to its ability to be easily exchanged for goods and services?
Divisibility
Acceptability
Portability
Durability
#3
Which of the following is NOT a function of money?
Medium of exchange
Store of value
Unit of measurement
Productivity of labor
#4
Which of the following is NOT a characteristic of fiat money?
Intrinsic value
Backed by a government
Legal tender
Value determined by supply and demand
#5
What term describes the characteristic of money where it can be easily carried and transferred from one person to another?
Fungibility
Durability
Portability
Acceptability
#6
What does 'fungibility' mean in the context of money?
The ability to be easily transported
The ability to be divided into smaller units
The ability to be substituted for another unit of the same value
The ability to resist wear and damage
#7
Which economist proposed the 'store of value' function of money?
Adam Smith
Karl Marx
John Maynard Keynes
Aristotle
#8
What term describes the characteristic of money where its value remains relatively stable over time?
Liquidity
Durability
Store of value
Fungibility
#9
In the context of money, what does 'unit of account' mean?
The ability to be divided into smaller units
The ability to represent the value of goods and services
The ability to withstand wear and tear
The ability to be substituted for another unit of the same value
#10
Which of the following is NOT a characteristic of commodity money?
Intrinsic value
Durability
Portability
Subjectivity
#11
Which of the following is an example of fiat money?
Gold coins
Silver certificates
Bitcoin
US dollar bills
#12
What term describes the characteristic of money where it is accepted as a means of payment because people have confidence in its value?
Legal tender
Commodity money
Fiat money
Medium of exchange
#13
Which of the following is NOT a historical form of money?
Salt
Cocoa beans
Bitcoin
Cowrie shells
#14
What is the term for the characteristic of money where it is widely accepted as a means of final payment?
Legal tender
Fiat money
Medium of exchange
Commodity money