Fiat Money

Fiat Money

12th Grade

15 Qs

quiz-placeholder

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Fiat Money

Fiat Money

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

John Robinson

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of fiat money?

Gold

Silver

Honey Buns

Paper money

2.

DRAG AND DROP QUESTION

1 min • 1 pt

​ (a)   money has no intrinsic value; it works only because we all believe it does.  The institution in charge of the money (​ (b)   ) has to be careful to maintain that trust.

Fiat

Central Bank

commodity

barter

3.

REORDER QUESTION

1 min • 1 pt

Put these in chronological order for the historical development of money

Commodity Money

fiat money

digital currency

Paper money backed by precious metals(gold standard)

Barter(no money)

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Money by government decree is?

Commodity

Representative

Fiat

5.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Which type(s) of money have an unlimited supply?

gold (commodity)

representative

fiat

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary characteristic of fiat money?

It is backed by a physical commodity like gold.

It has intrinsic value.

It is issued by a government and not backed by a physical commodity.

It is used only in digital transactions.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which institution is typically responsible for issuing fiat money?

Commercial banks

Central banks

Private corporations

International Monetary Fund

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