RIGHT! A lot of value can be carried in a pocket or purse, or formed into jewelry! Please skip to the next question

Gold is hard to find, but so are ivory-billed woodpeckers, and they aren't used for money. Please look for the answer in the written material, or just pick another answer

Gold is precious, but that's not the main reason it's used for money. Please look for the answer in the written material, or just pick another answer

Actually, gold's value does change as it gets harder or easier to find and/or process. Please look for the answer in the written material, or just pick another answer

RIGHT! Gold gets its value the same way any other commodity does. Skip to the next question

Capitalist economists hope to convince us that value comes from the market, but it doesn't. Please look for the answer in the written material, or just pick another answer

Nope. Gold had value long before paper currency was invented.Please look for the answer in the written material, or just pick another answer

Nope. Actually, investors closely watch the "price of gold" in different currencies in order to ascertain the values of the currencies. Please look for the answer in the written material, or just pick another answer

Actually, very little gold is in circulation as money. Please look for the answer in the written material, or just try another answer

This isn't a bad guess, because there is a tremendous amount of paper currency in circulation. But it's not the main form. Please look for the answer in the written material, or just try another answer

Investing in foreign currencies may be growing in popularity, but it's not the main form of money. Please look for the answer in the written material, or just try another answer

RIGHT! Banks are required to keep some reserves, but not as much as the "money" they create just by opening accounts. Please skip to the next question

The total amount of money changed tremendously in 2008, but prices were barely affected. Please look for the answer in the written material, or just try another answer

This is almost the same answer as #1, and just as insufficient. Please look for the answer in the written material, or just try another answer

RIGHT! The amount and velocity of money relative to the wealth represented characterizes inflation and deflation. Thanks for working this tiny module. Your feedback would help improve the on-line school.

The "popular psychology" theories about the economy, propagated far too much by newspersons, would have us thinking that there is no real value anywhere and that people's abstract beliefs or confidence levels determine economic developments. We read, "Investors were nervous," or "Buyers were timid," but they explain very little except their own desire to manipulate consumers. Please look for the answer in the written material, or just try another answer