QUESTION 1 For economists, money is. a. a medium of exchange b. a store of value

Question

QUESTION 1 For economists, money is. a. a medium of exchange b. a store of value c. a unit of account. d. None of the above e. All of the above QUESTION 2 Fiat money... a. is not vulnerable to hyperinflation. b. is a type of commodity money c. is accepted because a government says it has value d. has intrinsic value e. is the basis for barter. QUESTION 3 Money that has intrinsic value is known as... a. commodity money b. real estate c. fiat money d. liquid assets. e. currency QUESTION 4 Please identify whether the following fiscal policies are expansionary or contractionary: Increasing transfers Decreasing government spending Decreasing taxes

Explanation / Answer

Decraese in govt spending: contarctionary

Decreasing taxes: Expansionary.

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