经济学原理对应练习--29

1204Chapter29TheMonetarySystemMultipleChoice1.Moneya.ismoreefficientthanbarter.b.makestradeseasier.c.allowsgreaterspecialization.d.Alloftheabovearecorrect.ANS:DPTS:1DIF:1REF:29-1TOP:MoneyMSC:Definitional2.Whenwesaythattradeisroundaboutwemeanthata.peoplesometimestradegoodsforgoods.b.tradesrequireadoublecoincidenceofwantsc.currencyisacceptedprimarilytomakefurthertrades.d.peoplemustspendtimesearchingfortheproductstheywishtopurchase.ANS:CPTS:1DIF:1REF:29-1TOP:TradeMSC:Definitional3.Papermoneya.hasahighintrinsicvalue.b.istheprimarymediumofexchangeinabartereconomy.c.isvaluablebecauseitisgenerallyacceptedintrade.d.isvaluableonlybecauseofthelegaltenderrequirement.ANS:CPTS:1DIF:1REF:29-1TOP:MoneyMSC:DefinitionalConsiderfoursurvivorsonanisland.RuperthasmachetewantsfishingspearAmberhascookingpotwantsfishingspearRobhasfishingspearwantsmacheteTomhascookingpotwantsmachete4.Whichofthefollowingpairshaveadouble-coincidenceofwantswitheachother?a.RupertwithAmber,andRobwithTomb.AmberwithTomc.RupertwithRobd.Noneoftheabovehaveadouble-coincidenceofwants.ANS:CPTS:1DIF:1REF:29-1TOP:Double-coincidenceofwantsMSC:ApplicativeChapter29/TheMonetarySystem1205Considerthefollowingtraderswhomeet.BobhasanapplewantsanorangeTedhasanorangewantsapeachMaryhasapearwantsanappleAlicehasapeachwantsanorange5.Whichifanypairshaveadoublecoincidenceofwants?a.BobwithAliceb.TedwithAlicec.BobwithMary,TedwithBob,andTedwithAliced.NoneofthepairsabovehaveacoincidenceofwantswitheachotherANS:BPTS:1DIF:1REF:29-1TOP:Double-coincidenceofwantsMSC:Applicative6.Theexistenceofmoneyleadstoa.greaterspecializationinproduction,butnotahigherstandardofliving.b.ahigherstandardofliving,butnotgreaterspecialization.c.greaterspecializationandahigherstandardofliving.d.neithergreaterspecializationorahigherstandardofliving.ANS:CPTS:1DIF:1REF:29-1TOP:MoneyMSC:Definitional7.Changesinthequantityofmoneyaffecta.interestratesb.pricesc.productiond.AlloftheabovearecorrectANS:DPTS:1DIF:1REF:29-1TOP:MonetarypolicyMSC:Definitional8.Whichofthefollowingisastoreofvalue?a.currencyb.U.S.governmentbondsc.fineartd.Alloftheabovearecorrect.ANS:DPTS:1DIF:1REF:29-1TOP:StoreofvalueMSC:Interpretive9.Whichofthefollowingbestillustratestheunitofaccountfunctionofmoney?a.YoulistpricesforcandysoldonyourWebsite,:APTS:1DIF:1REF:29-1TOP:UnitofaccountMSC:Interpretive10.The“yardstick”peopleusetopostpricesandrecorddebtsiscalleda.amediumofexchange.b.aunitofaccount.c.astoreofvalue.d.liquidity.ANS:BPTS:1DIF:1REF:29-1TOP:UnitofaccountMSC:Definitional1206Chapter29/TheMonetarySystem11.Miaputsmoneyintoapiggybanksoshecanspenditlater.Whatfunctionofmoneydoesthisillustrate?a.storeofvalueb.mediumofexchangec.unitofaccountd.Noneoftheaboveiscorrect.ANS:APTS:1DIF:1REF:29-1TOP:StoreofvalueMSC:Interpretive12.Whichofthefollowingbestillustratesthemediumofexchangefunctionofmoney?a.Youkeepsomemoneyhiddeninyourshoe.b.Youkeeptrackofthevalueofyourassetsintermsofcurrency.c.Youpayforyourdoublelatteusingcurrency.d.Noneoftheaboveiscorrect.ANS:CPTS:1DIF:1REF:29-1TOP:MediumofexchangeMSC:Interpretive13.Yougetmoneyforbabysittingtheneighbors'children.Thisbestillustrateswhichfunctionofmoney?a.mediumofexchangeb.unitofaccountc.storeofvalued.liquidityANS:APTS:1DIF:1REF:29-1TOP:MediumofexchangeMSC:Definitional14.Whichofthefollowingisafunctionofmoney?a.aunitofaccountb.astoreofvaluec.mediumofexchanged.Alloftheaboveiscorrect.ANS:DPTS:1DIF:1REF:29-1TOP:MoneyMSC:Definitional15.Anitemthatpeoplecanusetotransferpurchasingpowerfromthepresenttothefutureiscalleda.amediumofexchange.b.aunitofaccount.c.astoreofvalue.d.Noneoftheaboveiscorrect.ANS:CPTS:1DIF:1REF:29-1TOP:StoreofvalueMSC:Definitional16.TreasuryBondsarea.liquid,butnotastoreofvalue.b.astoreofvalue,butnotliquid.c.bothliquidandastoreofvalue.d.neitherliquidnorastoreofvalueANS:CPTS:1DIF:1REF:29-1TOP:Liquidity|StoreofvalueMSC:Interpretive17.Whichofthefollowingfunctionsofmoneyisalsoacommonfunctionofmostotherfinancialassets?a.aunitofaccountb.astoreofvaluec.mediumofexchanged.Noneoftheaboveiscorrect.ANS:BPTS:1DIF:1REF:29-1TOP:StoreofvalueMSC:DefinitionalChapter29/TheMonetarySystem120718.Economistsusethewordmoneytorefertoa.incomegeneratedbytheproductionofgoodsandservices.b.thoseassetsregularlyusedtobuygoodsandservices.c.thevalueofaperson'sassets.d.thevalueofstocksandbonds.ANS:BPTS:1DIF:1REF:29-1TOP:MoneyMSC:Definitional19.Liquidityreferstoa.theeasewithwhichanassetisconvertedtothemediumofexchange.b.ameasurementoftheintrinsicvalueofcommoditymoney.c.thesuitabilityofanassettoserveasastoreofvalue.d.howmanytimeadollarcirculatesinagivenyear.ANS:APTS:1DIF:1REF:29-1TOP:LiquidityMSC:Definitional20.Whichlistranksassetsfrommosttoleastliquid?a.currency,fineart,stocksb.currency,stocks,fineartc.fineart,currency,stocksd.fineart,stocks,currencyANS:BPTS:1DIF:1REF:29-1TOP:LiquidityMSC:Definitional21.CurrentU.S.currencyisa.fiatmoneywithintrinsicvalue.b.fiatmoneywithnointrinsicvalue.c.commoditymoneywithin