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babdo babdo
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6 years ago
Bills and coins make up about __________.
 
  a) 50-60 of the total money supply
  b) 5-10 of the total money supply
  c) 100 of the money supply
  d)15-20 of the money supply


Commodity or fiat money is __________.
 
  a) backed by nothing more than the guarantee of the state
  b) backed by the promise of banks to exchange it for gold
  c) a kind of money first used by the indigenous peoples of Oceania
  d) refers only to money contained in checking accounts


The U.S. Federal Reserve was created to limit control and stabilize the money supply.
 
  Indicate whether this statement is true or false.


Credit money requires backing by some commodity of recognizable value.
 
  Indicate whether this statement is true or false.


GDP is a measure of the value of all goods and services produced and sold over a given period of time.
 
  Indicate whether this statement is true or false.
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estrada98estrada98
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6 years ago
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babdo Author
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#2
6 years ago
Thanks a whole bunch
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