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AP Macroeconomics Money Exam Questions and Answers
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AP Macroeconomics Money Exam Questions and Answers
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AP Macroeconomics: Money ExamQuestions and Answers
unit iiof iivalue ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(1)*
-US iiDOLLAR
-can iibe iisubdivided iiinto iiother iiacceptable iidenominations
medium iiof iiexchange ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(2)*
-currency
-i.e. iifederal iireserve iinotes ii= iiUS iicurrency
store iiof iivalue ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(3)*
-over iitime, iiaccumulation iiof iicurrency iileads iito iiaccumulation iiof iiwealth iiand
iipurchasing iipower
-allows iifor iicomparative iivalues
-also iiapplies iito iiforeign iiexchange
easily iidivisible ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(4)
-especially iiof iiUS iicurrency
-nostalgic iivalue iiof iipennies iivs. iiusefulness
high iivalue iito iiweight iiratio ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(5)
-each iinote ii= ii1 iigram
-Value ii= iiWeight iix iiDenomination
hard iito iicounterfeit ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(6)
-made iiby iiBureau iiof iiPrinting iiand iiEngraving
durable ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(7)
-"paper iimoney" ii(75% iicotton/25% iilinen)
portable ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(8)
scarce ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(9)
= iivalue ii(controlled iiby iimonetary iipolicy)
accepted ii- iiAnswers ii-10 iiCharacteristics iiof iiMoney: ii(10)
, commodity ii- iiAnswers ii-Types iiof iiMoney:
-inherent iivalue
representative ii- iiAnswers ii-Types iiof iiMoney:
-NO iiinherent iivalue ii(value iiby iiassociation)
-value iicomes iifrom iiwhat iisupports iiit ii(i.e. iispecie iigold/silver)
fiat ii- iiAnswers ii-Types iiof iiMoney:
-value iibecause iigovernment iisays iiso
-"________" ii= iigov't iidecree; iilegal iitender
-US iimoney; iibacked iiby iiDEBT
demand iideposit ii- iiAnswers ii-AKA ii"checks"
near iimoney ii- iiAnswers ii-assets iithat iican iieasily iibe iiturned iiinto iicurrency iiwithout iiloss
iiof iivalue
-i.e. iisavings iiaccount, iicertificate iiof iideposit iior iisavings iibond
30 iiyears ii- iiAnswers ii-coins' iilife iispan
Abe iiLincoln ii- iiR ii- iiAnswers ii-1¢
Thomas iiJefferson ii- iiL ii- iiAnswers ii-5¢
FDR ii- iiL ii- iiAnswers ii-10¢
Washington ii- iiL ii- iiAnswers ii-25¢
Eisenhower/Kennedy ii- iiL ii- iiAnswers ii-50¢
Susan iiB. iiAnthony ii- iiAnswers ii-1979-1981, ii1999
-$1; iidiscontinued iifor iisimilarity iito iiquarter
Sacajawea ii- iiAnswers ii-minted ii2000-present
-$1; iigold iicolor
21 iimonths ii- iiAnswers ii-life iispan: ii$1
Washington ii- iiGreat iiSeal ii- iiAnswers ii-$1 iifaces
Jefferson ii- iiDeclaration iiof iiIndependence ii- iiAnswers ii-$2 iifaces
*circul. iiby iidefault ii(NO iiLIFE iiSPAN)
16 iimonths ii- iiAnswers ii-life iispan: ii$5
*shortest iispan iib/c iimost iifreq. iihandled
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