The role and uses of money in the economy, and monetary theory

Question 1

is any item or commodity that is generally accepted as a means of payment for goods and services.

Answer 1

Money

Question 2

is accepted as means of Repayment of debt.

Answer 2

Money

Question 3

eliminates the problems that arises in Bartering.

Answer 3

Money

Question 4

includes the funds stored as electronic entries in one’s checking account and savings account.

Answer 4

Money

Question 5

is the oil that keeps the machinery of our world turning

Answer 5

Money

Question 6

The ______was first observed around 10,000 – 3000 BCE

Answer 6

BARTER

Question 7

It is the oldest form of payment to exchange of goods and services.

Answer 7

BARTER SYSTEM

Question 8

Exchange of Goods and Services are executed based on perceived equal value

Answer 8

BARTER SYSTEM

Question 9

The barter observes the______concept.

Answer 9

IOU

Question 10

CHARACTERISTICS AND KEY FUNCTIONS OF MONEY

Answer 10

*Medium of exchange
*Store of value
*Unit of account
* Standard deferred payment

Question 11

MONEY MUST NOT BE PERISHABLE

Answer 11

STORE OF VALUE

Question 12

CONTAINS AN INTRINSIC VALUE, SUCH AS THAT OF A PRECIOUS METAL THAT WAS USED TO MAKE A COIN. HENCE, IT WILL ACT AS A GUARANTEE OF ACCEPTANCE TO PAY FOR TRANSACTIONS.

Answer 12

ITEM OF WORTH

Question 13

MUST BE FREELY AND WIDELY USED FOR EXCHANGE OF GOODS AND SERVICES, AND THERE MUST BE STABILITY TO THE MONEY BEING USED.

Answer 13

MEANS OF EXCHANGE

Question 14

SHOULD EASILY BE DIVISIBLE AND THERE ARE SUFFICIENT DENOMINATIONS.

Answer 14

MEANS OF EXCHANGE

Question 15

MONEY MUST BE USED TO RECORD WEALTH POSSESSED, TRADE, OR SPENT PERSONALLY OR NATIONALLY.

Answer 15

UNIT OF ACCOUNT

Question 16

Money must only be issued and recognized by one authorized government body, otherwise, trust in its value would disappear.

Answer 16

UNIT OF ACCOUNT

Question 17

MONEY MUST BE WIDELY ACCEPTED TO VALUE A DEBT THEREBY ALLOWING GOOD AND SERVICES TO BE ACQUIRED NOW AND PAID FOR IN THE FUTURE.

Answer 17

STANDARD OF DEFERRED PAYMENT

Question 18

AN IDEA WHICH STATED THAT A CHANGE IN MONEY SUPPLY IS A KEY DRIVER OF ECONOMIC ACTIVITY

Answer 18

MONETARY THEORY

Question 19

Insufficient money circulating in the economy will slow it down

Answer 19

MONETARY THEORY

Question 20

Surplus of money circulating in the economy can cause inflation due to higher price levels

Answer 20

MONETARY THEORY

Question 21

MONETARY THEORY FORMULA

Answer 21

MV= PQ

Question 22

what is the meaning of M in the monetary theory formula?

Answer 22

M = Money Supply

Question 23

what is the meaning of V in the monetary theory formula?

Answer 23

V = Velocity (number of times currency is spent in a year)

Question 24

what is the meaning of P in the monetary theory formula?

Answer 24

P = Price of Goods and Services

Question 25

what is the meaning of Q in the monetary theory formula?

Answer 25

Q = Number of Good and Services

Question 26

PRICE LEVELS TENDS TO RISE MORE THAN THE PRODUCTION OF GOODS AND SERVICES WHEN THE ECONOMY IS CLOSE TO FULL EMPLOYMENT.

Answer 26

FULL EMPLOYMENT

Question 27

happens when all available labor resources are being used in the most efficient way possible.

Answer 27

FULL EMPLOYMENT

Question 28

IT DOES NOT MEAN ALL ARE EMPLOYED WITHIN THE ECONOMY

Answer 28

FULL EMPLOYMENT

Question 29

MANY MODERN ECONOMIST AGREE THAT SOME UNEMPLOYMENT IS NECESSARY TO AVOID INFLATION.

Answer 29

FULL EMPLOYMENT

Question 30

OF 5% OR LOWER IS CONSIDERED AS

Answer 30

FULL EMPLOYMENT

Question 31

GENERALLY, _% TO _% UNEMPLOYMENT RATE IS STILL AN ACCEPTABLE RATE TO MAINTAIN PRICES OF GOODS AND SERVICES AND AVOID INFLATION.

Answer 31

2% 7%

Question 32

THE CENTRAL BANK SETS MACROECONOMIC OBJECTIVES SUCH AS TO ENSURE PRICE STABILITY AND ECONOMIC GROWTH.

Answer 32

MONETARY POLICY

Question 33

HAVE TOOLS LIKE SETTING OFFICIAL INTEREST RATES

Answer 33

FINANCIAL AUTHORITIES

Question 34

WILL OPT TO EITHER INCREASE OFFICIAL INTEREST RATES (TO CONTROL INFLATION) OR DECREASE THEM (TO ENCOURAGE CONSUMPTION AND BOOST ECONOMIC GROWTH)

Answer 34

CENTRAL BANKS

Question 35

also responsible for carrying out operations to ensure that exchange rates remain stable.

Answer 35

Central Banks

Question 36

responsible for owning and controlling their official reserves.

Answer 36

Central Banks

Question 37

THEY PROVIDE LIQUIDITY TO COMMERCIAL BANK IN CASE OF SOLVENCY ISSUES.

Answer 37

THE BANK OF LAST RESORT

Question 38

Loans are provided to stimulate the commercial bank that is facing bankruptcy or financial issues.

Answer 38

THE BANK OF LAST RESORT

Question 39

Regulatory ambit and purview: institutional design and arrangement

Answer 39

*Securities and exchange commission *pdic *komisyon ng seguro *cooperative development authority

Question 40

shared responsibility with relevant stakeholders: supervision and Regulation Collaborative Arrangements Financial sector forum

Answer 40

*Securities and exchange commission *pdic *komisyon ng seguro *cooperative development authority Financial Stability Coordination Council

Question 41

Financial Stability Coordination Council

Answer 41

Department of Finance

Question 42

Key policy Priority and Reform Agenda

Answer 42

*institutional stability *Sustainability *Prudent innovation

Question 43

It is also a charitable foundations for the support of hospitals, convents, missions, and schools in which funds came from the profit

Answer 43

Obras Pias

Question 44

was the one who started the organization.

Answer 44

Father Juan Fernandez de Leon

Question 45

THE FIRST CREDIT INSTITUTIONS IN THE PHILIPPINES THAT WAS ESTABLISHED IN 1754 AND ENDED IN 1820

Answer 45

The ObrasPias

Question 46

THE FIRST PHILIPPINE BANK

Answer 46

El Banco Español Filipino de Isabel II

Question 47

El Banco Español Filipino de Isabel II

Answer 47

now called as Bank of the Philippine Islands (BPI)

Question 48

El Banco Español Filipino de Isabel II founder

Answer 48

Juan Antonio de Urbiztondo, Marquis of La Solana

Question 49

The bank’s name was from the mother of the late King

Answer 49

Alfonso XIII of SpaiN

Question 50

is the first paper currency of the country during the late Spanish occupation.

Answer 50

Pesos Fuertes

Question 51

has the greatest number of shares since 1969 making it as their parent company.

Answer 51

Ayala Corporation

Question 52

IRG meaning

Answer 52

INVESTOR RELATIONS GROUP (IRG)

Question 53

BSP

Answer 53

BANGKO SENTRAL NG PILIPINAS

Question 54

WAS CREATED IN JULY 2001 TO RAISE THE PHILIPPINE GOVERNMENT'S CREDIT PROFILE A​ND PROMOTE THE COUNTRY AS A VIABLE INVESTMENT DESTINATION.

Answer 54

BANGKO SENTRAL NG PILIPINAS

Question 55

NOW UNDER _____ STRATEGIC COMMUNICATION SUB-SECTOR, THE CORE OF IRG'S MANDATE IS TO COMMUNICATE BEFORE AN INTERNATIONAL AUDIENCE KEY MES​SAGES ON THE STRENGTHS OF THE PHILIPPINE ECONOMY, INCLUDING SOUND MACROECONOMIC FUNDAMENTALS, IMPROVED INVESTMENT CLIMATE, GAME-CHANGING PO​​LICY REFORMS, AND LONG-TERM ECONOMIC GROWTH POTENTIAL.

Answer 55

BSP

Question 56

The BSP aims to be recognized globally as the monetary authority and primary financial system supervisor that supports a strong economy and promotes a high quality of life for all Filipinos.

Answer 56

BSP VISION

Question 57

To promote and maintain price stability, a strong financial system, and a safe and efficient payments and settlements system conducive to the sustainable and inclusive growth of the economy.

Answer 57

BSP MISSION

Question 58

introduced a new logo in keeping with the changing times. In contrast to the stylized eagle profile design of the current logo, the new one features a full-bodied Philippine eagle rendered in gold, taking inspiration from various wildlife photographs of actual Philippine eagles. The use of the Philippine eagle in the new logo is intended to represent the BSP as well as the Filipino people which it serves.

Answer 58

THE BSP SEAL​

Question 59

THE LOGO EMPLOYS A PHOTOREALISTIC RENDERING OF A PHILIPPINE EAGLE IN FLIGHT, SIGNIFYING THE STRENGTH OF LEADERSHIP AND FORESIGHT THAT THE BSP PROVIDES IN THE FINANCIAL SECTOR AND THE ECONOMY.

Answer 59

GOLDEN PHILIPPINE EAGLE

Question 60

THE EAGLE'S OUTSTRETCHED WINGS AND TAIL FEATHERS SYMBOLIZE THE BSP'S __________, INCLUSIVE APPROACH TO GROWTH AND DEVELOPMENT, WHILE ALSO CONVEYING THE CENTRAL MONETARY AUTHORITY'S MASTERY OVER ITS FIELD.

Answer 60

BALANCED,

Question 61

THE EAGLE'S HEAD AND EYES _______, EXPRESSING THE BSP'S VIGILANCE AND READINESS TO SEIZE CHALLENGES AND OPPORTUNITIES THAT RISE OVER THE HORIZON.

Answer 61

FACE EAST

Question 62

THE TALONS REPRESENT

Answer 62

STRONG WILL, RESOLVE, AND THE MONETARY

Question 63

THE LOGO IS CONTAINED WITHIN ________

Answer 63

PERFECT CIRCLE

Question 64

REPRESENT THE THREE PILLARS OF CENTRAL BANKING (PRICE STABILITY, STABLE BANKING SYSTEM, AND A SAFE AND EFFICIENT PAYMENTS AND SETTLEMENTS SYSTEM), AS WELL AS THE BSP'S COMMITMENT TO PROMOTE AND SUSTAIN A HIGH QUALITY OF LIFE FOR ALL FILIPINOS, ACROSS LUZON, VISAYAS, AND MINDANAO.

Answer 64

GOLDEN STARS

Question 65

THE NAME OF THE BANGKO SENTRAL NG PILIPINAS IS RENDERED IN GOLD, USING A CLEAN SANS-SERIF FONT, TO SIGNIFY THE BANK'S OPERATIONAL EFFICIENCY, CLARITY OF VISION, AND SINGLE-MINDEDNESS OF PURPOSE

Answer 65

CORPORATE TEXT

Question 66

DOMINATE THE NEW LOGO’S COLOR SCHEME TO EVOKE THE BSP’S STATURE AS A PREMIER GOVERNMENT AGENCY.

Answer 66

YELLOW GOLD AND MIDNIGHT BLUE

Question 67

FOREGROUND ELEMENTS REPRESENT THE BSP'S AIM TO PROMOTE ECONOMIC GROWTH AND PROSPERITY, AND THE HIGH STANDARDS OF ETHICS AND PERFORMANCE IT HOLDS.

Answer 67

YELLOW GOLD

Question 68

BACKGROUND IS EVOCATIVE OF THE HONOR, DIGNITY, AND NOBLE CHARACTER OF THE FILIPINO PEOPLE, AND THE BSP'S UNWAVERING COMMITMENT TO SERVE THE NATION.

Answer 68

TWO-TONE MIDNIGHT BLUE

Question 69

governor and chairman

Answer 69

Eli M. Remolona, JR.

Question 70

Deputy Governor Financial Supervision Sector

Answer 70

Chuchi G. Fonachier