Money and The Federal Reserve Test Review

Money and The Federal Reserve Test Review

12th Grade

20 Qs

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Money and The Federal Reserve Test Review

Money and The Federal Reserve Test Review

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Amy Dick

Used 19+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Which of the following accurately completes the graphic?

Types of money

Federal Reserve notes

Characteristics of money

Functions of money

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Commodity money can best be described as —

trade goods or services between two people without the exchange of money

currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves

a form of money which has an intrinsic value, meaning it is worth something in its own right rather than simply being a token of financial value

money that consists of a token or certificate that can be exchanged for a specific good, such as gold, silver, or potentially water, oil, or food

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Money that has value simply because the government says it does is called —

credit

currency

fiat money

representative money

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

One of the disadvantages of operating a barter system is that trading is —

taking place without currency

carried out in very large markets

limited by availability and demand

conducted without consumer protections

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

One advantage to using a debit card is that it allows the user to —

build a strong credit score

repay credit card debts faster

access currency without carrying cash

purchase goods without having any money

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Which of the following best completes the graphic?

Stock Exchange

Federal Reserve System

Treasury Department

Washington, D.C.

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In order to require banks to hold more money as opposed to lending it, the Federal Reserve can —

decrease the discount rate

decrease the federal funds rate

increase the reserve requirement

suspend the federal funds rate target

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