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currency in circulation?

Question
Question 1(Multiple Choice Worth 3 points)Which of the following is considered currency in circulation?
The money in the vault at the Second Federal Bank
The dime that you have in your piggy bank
The interest owed on your credit card
The balance on your lunch meal card
The available credit on your credit card

Question 2(Multiple Choice Worth 3 points)What is the effect on the money supply when you transfer money from your checking account to your savings account?
Increase M1; decrease M2
Decrease M1; increase M2
No effect on M1; increase M2
No effect on M1; decrease M2
Decrease M1; no effect on M2

Question 3(Multiple Choice Worth 3 points)If you use money as a store of value, you would be
buying a new pair of shoes.
putting money in your college savings account.
comparing tuition costs for Princeton and Yale.
charging a new book on your credit card.
withdrawing $500 from your checking account.

Question 4(Multiple Choice Worth 3 points)Which of the following would be the most liquid?
A $100 Sears gift card
A total of $1000 in checkable deposits
One hundred shares of Exxon-Mobil stock
A new ten dollar bill
A total of $5000 in your savings account

Question 5(Multiple Choice Worth 3 points)Which of the following are included in M3?
  1. $100 certificate of deposit (CD)
  2. $300,000 savings deposit
  3. $1,000 in traveler's checks
  4. $500 in your piggy bank
I and II
I and III
I, III, and IV
I, II, and III
I, II, III, and IV

Question 6(Multiple Choice Worth 3 points)Most economists think that the rise in the demand for cash is caused by the rise of the underground economy and the use of
U.S. currency as a medium of exchange.
U.S. currency as a standard of value.
U.S. currency as a store of value.
U.S. currency as a form of international currency.
U.S. currency as a unit of account.

Question 7(Multiple Choice Worth 3 points)If you pay $3.00 for a gallon of gas, the function of money is as a
standard of value.
store of value.
medium of exchange.
unit of value.
standard of currency.

Question 8(Multiple Choice Worth 3 points)If you transfer $100,000 from your savings account and put it in your certificate of deposit,
M1 increases.
M3 increases and M2 decreases.
M1 increases and M2 decreases.
M2 increases and M1 decreases.
M2 decreases.

Question 9(Multiple Choice Worth 3 points)When you compare prices for high definition televisions at various stores, you are using money as a(n)
medium of exchange.
standard of value.
store of value.
payment method.
unit of currency.

Question 10(Multiple Choice Worth 3 points)If you withdraw $1000 from your savings account so you can go on vacation,
M2 decreases by $1000 and M1 increases by $1000.
M2 decreases by $1000.
M1 increases by $1000 and M2 increases by $1000.
M1 increases by $1000.
there is no immediate change in the money supply.

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