#1
Which function of money refers to its ability to be easily exchanged for goods and services?
Unit of account
Store of value
Medium of exchange
Standard of deferred payment
#2
What function of money helps in comparing the value of different goods and services?
Unit of account
Store of value
Medium of exchange
Standard of deferred payment
#3
Which of the following is NOT a function of money?
Medium of exchange
Unit of production
Store of value
Standard of deferred payment
#4
In the context of money, what is 'portability'?
The ability to carry large quantities easily
The ability to be easily divisible
The interchangeable and indistinguishable nature of each unit
The ability to store value over time
#5
What is the term for a situation where money loses its value rapidly, resulting in a rise in prices?
Inflation
Deflation
Hyperinflation
Stagflation
#6
Which function of money allows people to hold onto their wealth in a form that will last into the future?
Unit of account
Store of value
Medium of exchange
Standard of deferred payment
#7
What is the term for money being used to settle debts at some time in the future?
Unit of account
Store of value
Medium of exchange
Standard of deferred payment
#8
Which function of money involves money maintaining its value over time?
Medium of exchange
Unit of account
Store of value
Standard of deferred payment
#9
What is the term for money that is backed by a physical commodity such as gold or silver?
Fiat money
Commodity money
Cryptocurrency
Barter money
#10
In the context of money, what does 'divisibility' mean?
The ability to store value over time
The ability to carry large quantities easily
The interchangeable and indistinguishable nature of each unit
The ability to be easily divisible
#11
In the context of money, what does 'fungibility' mean?
The ability to store value over time
The ability to be easily divisible
The interchangeable and indistinguishable nature of each unit
The ability to be a medium of exchange
#12
Which function of money is related to its acceptability in transactions?
Medium of exchange
Unit of account
Store of value
Standard of deferred payment
#13
In the context of money, what does 'durability' refer to?
The ability to carry large quantities easily
The ability to be easily divisible
The interchangeable and indistinguishable nature of each unit
The ability to withstand wear and tear
#14
In the context of money, what does 'acceptability' refer to?
The ability to carry large quantities easily
The ability to be easily divisible
The interchangeable and indistinguishable nature of each unit
The willingness of people to use it as a medium of exchange
#15
In the context of money, what does 'elasticity' refer to?
The ability to be easily divisible
The interchangeable and indistinguishable nature of each unit
The ability to withstand wear and tear
The ability to expand or contract in supply