Money

Quiz
•
Social Studies
•
12th Grade
•
Hard
Michael Alberts
Used 579+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between representative money and fiat money is that
representative money is worth more than fiat money.
fiat money is counted in coins; representative money is counted in paper dollars.
fiat money is more durable than representative money.
representative money is backed by silver or gold, ; fiat money is not.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What effect does inflation have on the purchasing power of money?
Causes it to go down
Causes it to go up
None
The effect varies depending on the time and place.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During times of hyperinflation
people often adopt something other than the official currency to use as money
people hoard the official currency
the purchasing power of the currency increases rapidly
the money supply is decreasing
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a characteristic of money?
Divisibility
Portability
Acceptability
Responsibility
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability to use an asset as a medium of exchange describes its....
portability
scarcity
durability
liquidity
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