Functions of Money Quiz

Functions of Money Quiz

11th Grade

61 Qs

quiz-placeholder

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Functions of Money Quiz

Functions of Money Quiz

Assessment

Quiz

Social Studies

11th Grade

Hard

Created by

Kelly Krause

FREE Resource

61 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the function of money that allows it to be used to buy goods and services without the complications of bartering?

Medium of Exchange

Unit of Account

Store of Value

Measure of Wealth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which function of money is used to measure the value of goods and services?

Medium of Exchange

Unit of Account

Store of Value

Currency Standard

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What function of money allows it to preserve or save purchasing power for future consumption?

Medium of Exchange

Unit of Account

Store of Value

Financial Instrument

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What components make up M1 in the money supply?

Cash, coins, checking deposits, traveler's checks

Savings deposits, small time deposits, money market deposits

Money market mutual funds, savings deposits, cash

Checking deposits, small time deposits, money market mutual funds

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What additional components are included in M2 that are not in M1?

Cash and coins

Traveler's checks and checking deposits

Savings deposits, small time deposits, money market deposits, money market mutual funds

Only cash and savings deposits

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do M1 and M2 together refer to in economics?

Interest rates

Money supply

Inflation rate

Exchange rate

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is the supply of money considered constant in this context?

Because it fluctuates with interest rates

Because it is controlled by the government

Because it has a vertical supply curve

Because it changes with inflation

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