Question 1

__________ occurs when goods are traded directly for other goods.

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Question 2

The redesign and new colors added to U.S.paper money is intended to:

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Question 3

Which of the following represents a benefit of coins over paper money?

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Question 4

The International Monetary Fund does not lend money.

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Question 5

A rapid increase in the money supply may lead to a(n):

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Question 6

__________ represents the most commonly used definition of the money supply.

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Question 7

Everything else held constant,an international bank based in New York would prefer to loan money to an efficient firm operating in San Paulo,Brazil than an inefficient firm operating in southern California.

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Question 8

Kimberly trades some of her homegrown tomatoes to her neighbor,Ron,for some green peppers fresh from Ron's garden.This type of trade represents an example of:

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Question 9

The Fed Chairman is in control of:

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...

Question 10

Which of the following is not a favorable characteristic of money?

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Question 11

Chipper's Golf Resort plans to carry an inventory of golf clubs - irons,drivers,and woods from a German manufacturer.The manufacturer has promised delivery in four weeks,which will be just in time for the beginning of Chipper's golf season at its Chicago course.In order to prudently watch cash flow,you have recommended that Chipper's Resort sign a letter of credit with an international bank asking the bank to disburse payment when the clubs arrive at the Chicago course and after they are inspected.

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Question 12

As a relatively poor nation,Liberia wants to obtain funds for a project to improve the availability of water and electricity.Liberia should contact the International Monetary Fund.

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Question 13

When the Federal Reserve pursues policies that increase interest rates,the amount of foreign funds flowing into the United States also increases.

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Question 14

Abdul Industries wants to import some heavy machinery from a producer located in the Czech Republic.To facilitate payment to the Czech firm,Abdul arranged for its bank to issue a banker's acceptance.Under this arrangement,the bank pays the exporter after the equipment passes inspection.

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Question 15

__________ includes anything that people generally accept as payment for goods and services.

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Question 16

The IMF's goal is to maintain a global monetary system.

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Question 17

The problem with bartering is:

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...

Question 18

The ______ definition of money supply includes money that is quickly and easily accessed.

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Question 19

Given the size and strength of the U.S.economy and the widespread use of the dollar,the Federal Reserve essentially regulates international monetary markets.

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Question 20

Today,a regular _____________ is a system where you can exchange goods for other goods.You submit your goods and you receive trade credit that you can use to buy other goods.

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Quiz 20: Money, Financial Institutions, and the Federal Reserve