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Introduction to CLAW6031 SEM1-2019 Flashcards | StudBud

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Dollarization means that:

Seigniorage is when:

Introduction to CLAW6031 SEM1-2019

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Questions 7

Answers

1
Seigniorage is when:
the government withdraws certain coins from circulation.
the government makes profit from printing money.
the government withdraws certain bills from circulation.
the government adopts a foreign currency
2
Dollarization means that:
The USD is not accepted at all.
The country uses USD and a national currency.
You can exchange USD for national currency at an exchange.
The USD has been adopted as the official currency.
3
Operational Risk is the risk of losses resulting from:
Faulty controls and management failure
Fraud
All available answers
Human error
4
In 2000, the EU exchanged the national currencies of some member states for the Euro. This was:
Legal tender
Deflation
Dollerisation
Demonetisation
5
A currency must have the following feature(s):
Unit of account
Store of value
Medium of exchange
All available answers
6
Cryptocurrencies (such as Bitcoin) serve the traditional economic functions of money:
False
True
7
John wants to spend his Euro notes in Sydney.
The Aussie dollar is legal tender in Australia
The Euro and Aussie dollar are not legal tender in Australia
The Euro and Aussie dollar are legal tender in Autralia.
The Euro and the Aussie dollar are legal tender in the EU