Question

Money can be used as a medium of exchange, unit of account and store of value.

Question 1 options:

	True
	False

Question 2 (1 point)

If it is difficult to convert an asset into a country's medium of exchange, we say that asset is liquid.

Question 2 options:

	True
	False

Question 3 (1 point)

If money has no intrinsic other than the value goverment gives it, we call the money fiat money.

Question 3 options:

	True
	False

Answer 1

1. Ans: True

Explanation:

There are four major features of money. These are;

• a medium of exchange
• unit of account
• store of value
• standard of deferred payment

2.Ans: False

Explanation:

Liquid assets are those assets which can be easily converted into money or a country's medium of exchange .

3.Ans: True

Explanation:

Fiat money does not have any intrinsic value. It means the  face value of fiat money is much greater than its intrinsic value. So fiat money  has no intrinsic value other than the value goverment gives it,