Module 23: The Definition and Measurement of Money b 1. money a. value derives entirely from its official status 2. currency in circulation b. asset that can easily be used to purchase goods and svcs. 3. checkable bank deposits C. medium of exchange with intrinsic value in other uses 4. money supply d. bank accounts on which people can write checks 5. medium of exchange 0. financial assets that can't be directly used but can be converted 6. store of value f. measure used to set prices and make calculations 7. unit of account g. no intrinsic value but ultimate value is a promise of conversion into goods 8. commodity money h. asset acquired for the purpose of trading goods 9. commodity backed money i. cash held by the public 10. fiat money j. total value of assets in the economy that are considered money 11, money aggregate k. overall measure of the money supply 12. near moneys I. means of holding purchasing power over time