Money Test

Credit cards are not money.

• True

• False

The Federal Reserve makes US paper currency.

• True

• False

Money can be anything as long as it is accepted.

• True

• False

  US banking operates under a fractional reserve system.

• True

• False

The value of the metal in today’s coins is worth less than the numerical value stamped on the coin.

• True

• False

A continued loose money policy has a tendency to cause inflation over time.

• True

• False

The US has more money in circulation that it has gold in reserves.

• True

• False

M₃ is in M₂.

• True

• False

E Pluribus Unum means “One out of Many”

• True

• False

The unfinished pyramid on the US Great Seal represents the thirteen colonies.

• True

• False