1. (T) The US dollar is a constant store of value.
2. (F) Instrument of credit are accepted because they can be converted easily into substitute money.
3. (T) The purchasing power of money depends upon supply and demand.
4. (T) The demand for money is related to the rapidity eith which business is done.
5. (T) You can earn interest on a current account.
6. (T) Banks lend money to depositors who need capital.
7. (F) The main profits of a bank come from lending money at a fixed rate of interest.
8. (T) Money is described as “liquid” because it is compared to flowing water.
9. (T) Legal tender must change hands when we do business and we must see it change hands.
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