s these 1. An asset that can easily be exchanged for goods and services is referred to as: a. an intangible asset. b. a productive resource. c. a liquid asset. d. a fixed asset. e. a scarce resource. 2. The use of money as a unit of account: a. discourages specialization and division of labor. b. inhibits the exchange of goods and services. c. makes it difficult to compare the relative values of goods and services. d. lowers information costs relative to barter. e. relies on the existence of a double coincidence of wants. 3. Money fails to act as a store of value when: a. it is no longer backed by gold. b. the inflation rate is very high. c. the goods produced in an economy are indivisible. d. the economy goes into a recession. e. coins are replaced by paper money. 4. The use of foreign money instead of domestic money when the domestic economy has a high rate of inflation is called _____. a. currency depreciation b. currency substitution c. capital flight d. currency devaluation e. currency trade 5. Which of the following is a transactions account? a. Currency b. Travelers' checks c. A savings account d. A credit card balance e. A demand deposit 6. Which of the following is true of other checkable deposits? a. They are checking account deposits at commercial banks and do not pay any interest. b. They are accounts at financial institutions that pay interest and give the depositor check- writing privileges. c. They comprise solely of demand deposits at mutual savings bank