A money market mutual fund ______
a. is not as liquid as paper currency
b. is a standard unit of account
c. is a component of M1
Federal Reserve Notes
a. are a form of near-monies
b. are a form of token money
c. are the same as checking deposits
Early in the US history, tobacco and cotton were used as forms of money know as "country pay". when used, these forms of currency:
a. are not a reliable medium of exchange
b. are a useful way to maintain money's store of value function
c. are a standard, stable unit of account
Token's money face value is not ___, though it_____
a. a perfect indicator of its liquidity; is always backed by gold or another tangible asset
b. the same as its inherent value, fulfills money's unit of account function
c. an acceptable unit of account; is the same as its inherent value