Title: QUIZ: Functions of Money -- Economic Lowdown Audio Series
Course: Andria Testing FRE2 > Section: Functions of Money -- Economic Lowdown Audio Series

Q: Last year you stashed your birthday money in your sock drawer. You are saving for a new computer. Which function of money did you exhibit?
- Medium of exchange
- Store of value
- Unit of account
- Universality
A: Store of value

Q: You bought $56 worth of school supplies at a discount store. You paid for the goods with two $20 bills, three $5 bills, and a $1 bill. Which function of money did you exhibit?
- Medium of exchange
- Store of value
- Unit of account
- Universality
A: Medium of exchange

Q: _________ is a certificate or token that can be exchanged for the underlying commodity.
- Representative money
- Durable money
- Fiat money
- Portable money
A: Representative money

Q: _________ is money that does not have intrinsic value and does not represent an asset in a vault somewhere.
- Representative money
- Durable money
- Fiat money
- Portable money
A: Fiat money

Q: A twenty-dollar bill can be easily exchanged for other denominations, but a cow cannot.  In this way, a cow is not _________________.
- portable
- divisible
- acceptable
- durable
A: divisible

Q: Cows come in all shapes and sizes while 20-dollar bills are the same size and shape and value.  In other words, twenty-dollar bills are _________________.
- durable
- portable
- uniform
- divisible
A: uniform

Q: Twenty-dollar bills travel nicely in a wallet, while a cow would likely require a special vehicle for travel to the store across town.  In other words, cows are not _______________.
- uniform
- portable
- durable
- divisible
A: portable