ECON 1010 Lecture Notes - Lecture 4: Canada Deposit Insurance Corporation, Credit Union, Bank Reserves

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22 Sep 2016

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24. 1 money, price level, inflation: money is any commodity or token that is acceptable as means of payment. Means of payments refers to as a method of settling a debt. Money serves as three functions: medium of exchange, unit of account and store of value: medium of exchange. Any object generally accepted in exchange for goods and services. Without medium of exchange, exchange can be made via barter. A barter requires a double coincides of wants: unit of account: agreed measure for stating the prices of goods and services, store of value c. i. Can be held and exchange for goods later. The more stable the value of c. ii. commodity, the better it can be stored as money. Inflation lowers the value of money or the values of other commodities and tokens that are used as money. Low inflation rate is needed to make money as useful as possible. In canada, money consists of currency and deposits and banks or other.

Related Questions

The buyers and sellers in the country of perylia use corn as a medium of exchange. This means that:

A. corn can be used as a store of value but not as a unit of account in Perylia
B. Perylia uses Fiat money
C. corn cannot be used as a store of value or as a unit of account in Perylia
D. Perylia uses commodity money.

viridiandog782

1. To say money is socially defined means that:

A) the money supply includes all public and private securities purchased by society.

B) whatever performs the functions of money extremely well is considered to be money.

C) society, acting through Congress, specifies what shall be included in the money supply.

D) money has been defined in a Constitutional amendment.

2. Money functions as:

A) a medium of exchange.

B) a store of value.

C) a unit of account.

D) all of these.

3. If you are estimating your total expenses for school next semester, you are using money primarily as:

A) a store of value.

B) an economic investment.

C) a unit of account.

D) a medium of exchange.

4. If you place a part of your summer earnings in a savings account, you are using money primarily as a:

A) medium of exchange.

B) store of value.

C) standard of value.

D) unit of account.

5. If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as:

A) a store of value.

B) a medium of exchange.

C) a unit of account.

D) an economic investment.

6. A $70 price tag on a sweater in a department store window is an example of money functioning as a:

A) standard of deferred payments.

B) medium of exchange.

C) unit of account.

D) store of value.

7. Stock market price quotations best exemplify money serving as a:

A) index of satisfaction.

B) store of value.

C) medium of exchange.

D) unit of account.

8. Purchasing common stock by writing a check best exemplifies money serving as a:

A) medium of exchange.

B) unit of account.

C) index of satisfaction.

D) store of value.

crimsonalligator541

A property right is

		A social arrangement that governs the ownership, use, and disposal of anything that people value.
		An economical unit that hires production factors and organizes those factors to produce and sell goods and services.
		Any arrangement that enables buyers and sellers to get information and to do business with each other.
		Any commodity or token that is generally accepted as a means of payment.
		A medium of exchange.

cyantermite905

ECON 1010 Lecture Notes - Lecture 4: Canada Deposit Insurance Corporation, Credit Union, Bank Reserves

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