7. All of the following are considered money in the United States EXCEPT:?

Question

7. All of the following are considered money in the United States EXCEPT:

A. credit cards.

B. currency.

C. coins.

D. checking account balances.

E. travelers' checks.

8. The amount of money in the United States is determined by:

A. the Federal Reserve.

B. commercial banks.

C. the public

D. the combined behavior of commercial banks and the public.

E. the combined behavior of commercial banks and the public, and actions of the Federal Reserve.

Answer 1

7. All of the following are considered money in the United States EXCEPT:

A. credit cards.

8. The amount of money in the United States is determined by:

Correct answer is:

E. the combined behavior of commercial banks and the public, and actions of the Federal Reserve.

Answer 2

7. The answer is A. credit cards.

Credit cards are not included in M1 or M2 even though people increasingly use credit cards to pay for many of their purchases - the main reason is that they do not represent part of people's wealth.

8. The answer is E.

The Fed determines how much money circulates in the economy, and regulates all financial markets. This is in conjunction with behavior of commercial banks and their depositors.

Answer 3

D, and E.

Answer 4

7 d

8 a