Fiat Money

Fiat Money

12th Grade

10 Qs

quiz-placeholder

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Fiat Money

Fiat Money

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Majd Qozat

Used 22+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fiat Money is Money...

a) ...without intrinsic value.

b) ...with intrinsic value.

c) ...that can be also consumed.

d) ...this is not declared by the government as legal tender

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fiat money's value originates from government decree

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The production of fiat money is mostly controlled by

citizens

rich people

government

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Commodity money has intrinsic value.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paper currency is an example of ...................

barter system

Commodity money

Fiat money

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of fiat money is back by ........................

gold

silver

none of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The barter system suffers from the requirement that the traders must have a coincidence of wants

True

False

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