Unit 1: History of Money Exam Review

Unit 1: History of Money Exam Review

8th Grade

39 Qs

quiz-placeholder

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Unit 1: History of Money Exam Review

Unit 1: History of Money Exam Review

Assessment

Quiz

Business

8th Grade

Hard

Created by

Datrell Morgan

Used 4+ times

FREE Resource

39 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Which of the following terms refers to the process by which the Federal Reserve controls the money supply and interest rates to achieve economic goals?

Commercial banking

Monetary policy

Financial stability

Bartering

2.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

What is the system of production, distribution, and consumption of goods and services in a country called?

Economy

Inflation

Recession

Monetary policy

3.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Money borrowed from banks that must be repaid with interest is known as:

Deposits

Currency

Loans

Bartering

4.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

What is the term for money kept in banks by individuals and businesses?

Loans

Deposits

Currency

Inflation

5.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Which of the following are financial institutions that accept deposits and provide loans to individuals and businesses?

Commercial banks

Federal Reserve banks

Central banks

Bartering systems

6.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

What is the cost of borrowing money or the return on savings called?

Inflation

Interest rates

Monetary policy

Financial stability

7.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

What is the increase in prices over time called?

Recession

Inflation

Deposits

Bartering

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