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Money is a highly liquid financial asset that is generally accepted in
exchange for other assets or goods, is used as a reference in valuing other
assets or goods, and can be stored as wealth.To be liquid means to be easily
changeable into other assets or goods. When you buy something with money, you
are exchanging money for it. So, any of your assets that are easily spendable
are money. Social customs and standard practices are central to the liquidity of
money. The reason you are willing to hold money is that you know someone else
will accept it in trade for something else. Its value is determined by its
general acceptability to others.Money can serve as a medium of exchange. The
easiest way to understand money’s medium-of-exchange use is to imagine what an
economy would be like without money. Direct exchange of commodities without the
medium of money—barter—can work tolerably well in economies where only a narrow
range of goods and services are exchanged, but it becomes extremely cumbersome
when there is a wide range of commodities. The use of money as a medium of
exchange makes it possible to trade real goods and services without bartering.
Instead of carrying around a sack full of diverse goods, all you need to carry
around is a billfold full of money.Money does not have to have any inherent
value to function as a medium of exchange. All that is necessary is that
everyone believes that other people will accept it in exchange for their goods.
This neat social convention makes the economy function more smoothly.The social
convention depends on there not being too much or too little money. If there is
too much money compared with the goods and services offered at existing prices,
the goods and services will sell out, and money will not buy you anything, or
prices will rise. If there is too little money compared with the goods and
services offered at the existing prices, there will be a shortage of money and
people will have to resort to barter, or prices will fall. Since the central
bank controls the supply of money, it also controls the value of money as a
medium of exchange.Money can serve as a unit of account. Money can be used for
accounting purposes, to measure the relative exchange values of different goods
and services. A bicycle, for example, can be said to be worth RMB 500 and an
automatic washing machine RMB 1,500. This indicates that the automatic washing
machine is worth three times as much as the bicycle. Money is a useful unit of
account only as long as its value relative to the average of all other prices
does not change too quickly. For example, in hyperinflation all prices rise so
much that our frame. of reference for making relative comparisons is lost. Money
can also be used to add up the value of different commodities. In this way, we
can measure the entire output of an economy producing a variety of goods and
services.Money can serve as a store of value. Money is a financial asset. So a
third use of money is as a store of value. As long as money is serving as a
medium of exchange, it automatically also serves as a store of wealth. Money
serves as a way to accumulate wealth until it is spent. The restaurant owner can
accept your money and hold it for as long as he or she wants before spending it.
(But had you paid him or her in fish, he or she would be wise not to hold it for
more than a few hours.) A person making RMB 5,000 per month who wants to buy a
RMB 3,000-computer could save RMB 500 per month for each of the next months.To
be a satisfactory store of purchasing power, however, the value of money should
be reasonably stable over time. If RMB 180 can buy two pairs of jeans in 2015,
but only one pair in 2016, people are not going to be too confident in the RMB
as a store of value. Unfortunately, the value of stored money is directly
dependent on the health of the economy. If, due to rapid inflation, all prices
double in one year, then the purchasing power of the money would fall by half.
Conversely, savings will buy more when prices fall as a result of
recessions.
51、Money is a highly liquid financial asset because of the following reasons
except that ___________.
A.it has the inherent value to function as a medium of exchange
B.it is generally accepted in exchange for other assets or goods
C.it can be used as a reference in valuing other assets or goods
D.it can be stored as wealth
52、Which sentence is the topic sentence of the second paragraph?
A.The last sentence.
B.The first sentence.
C.The second sentence.
D.The third sentence.
53、Money has the following functions except that____________.
A.it serves as a medium of exchange
B.it serves as a unit of account
C.it can be used as a store of wealth
D.it has its own weight
54、Barter becomes very __________ when there is a wide range of commodities
and services that are exchanged.
A.quick
B.easy
C.efficient
D.inconvenient
55、Money can serve as a medium of exchange because of the following except
that ___________.
A.money has its inherent value
B.money makes it possible to trade real goods and services without
bartering
C.money can be carried more easily than other goods
D.people accept money in exchange for their goods
请帮忙给出正确答案和分析,谢谢!