Checks Are NOT Money Because They

question 454

Multiple Choice

Checks are NOT money because they

• A) are merely instructions to transfer money.
• B) have value in exchange but little intrinsic value.
• C) are issued by banks, not by the government.
• D) are not backed by either gold or silver.

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Definitions:

Go Long

An investment strategy where an investor buys shares or securities with the expectation that their price will rise over time.

Sell Short

The sale of a security that the seller does not own at the time of the sale, typically with the intention of buying it back later at a lower price to make a profit.

Exchange Rates

The value of one currency for the purpose of conversion to another.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, commonly used as an indicator of inflation.