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7/10/2019 Quiz - ECON 103 6980 Economics in the Information Age (2195) - UMUC Learning Management System

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Question 1 (1 point)

Question 2 (1 point)

Question 3 (1 point)

Question 4 (1 point)

Which of these are a role for money?

Money is stable when

The U.S. dollar is an example of

Which of these is NOT a function of banks:

double coincidence of wants

portable

law of demand

barter

its purchasing power does not vary over time,

it is portable,

it can be divided into smaller units, like change.

it is widely accepted for payment.

inconvertible fiat money

the gold standard

barter exchange

commodity money

7/10/2019 Quiz - ECON 103 6980 Economics in the Information Age (2195) - UMUC Learning Management System

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Question 5 (1 point)

Question 6 (1 point)

Question 7 (1 point)

Supply side economics

Which of the following is NOT true of inflation

The CPI measures

they bring together savers and borrowers.

they are responsible for the conduct of monetary policy

safe places for people to store their wealth

they help to facilitate trade by providing alternative methods of payment

espouses that tax cuts will increase aggregate demand and stimulate economic growth

espouses that tax cuts will increase aggregate supply and stimulate economic growth

is generally accepted by mainstream economists

has proven to be effective in stimulating the U.S. economy

it is affected by the growth of the money supply

it describes both increases in prices and decreases in prices

it is commonly measured by the CPI - the Consumer Price Index

it describes an increase in the over-all level of prices of goods and services

7/10/2019 Quiz - ECON 103 6980 Economics in the Information Age (2195) - UMUC Learning Management System

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Question 8 (1 point)

Question 9 (1 point)

Question 10 (1 point)

Which of the following describes a monetary policy?

Which of these are causes of the Great Recession?

Which of the following describes an expansionary monetary policy? (Please select all correct answers)

measures the prices of all goods purchased by individuals and non-profit institutions

the average cost of the goods and services purchased by consumers

the average cost of goods and services purchased by individuals and firms

the average price of food and fuel, the most volatilely-priced purchased goods

government issuance of U.S. securities

increase in tax rates

infrastructure spending

federal open market operation

federal government tax cuts

weak banking regulation combined with rampant financial innovation

excessive banking regulation combined with rampant banking innovations

large federal deficit

7/10/2019 Quiz - ECON 103 6980 Economics in the Information Age (2195) - UMUC Learning Management System

https://learn.umuc.edu/d2l/lms/quizzing/user/attempt/quiz_start_frame_auto.d2l?ou=387989&isprv=&drc=0&qi=966234&cfql=0&dnb=0 4/4

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A decrease in the reserve ratio

FOMC directive to purchase securities

FOMC directive to sell securities

Increase in the overnight federal funds rate