UNIT 3 Vocab Quiz: CH.10 Lesson 1

UNIT 3 Vocab Quiz: CH.10 Lesson 1

9th - 12th Grade

10 Qs

quiz-placeholder

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UNIT 3 Vocab Quiz: CH.10 Lesson 1

UNIT 3 Vocab Quiz: CH.10 Lesson 1

Assessment

Quiz

History

9th - 12th Grade

Medium

Created by

Andrew Lara

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve System (Fed)?

The central banking system of the United States.

An economic system where goods are exchanged.

A standard unit of currency.

Currency that must be accepted for payment.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Barter Economy?

An economic system where goods and services are exchanged directly.

A monetary system backed by gold.

A bank chartered by the federal government.

A nonprofit financial cooperative.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Monetary Unit?

The standard unit of currency in a country’s money system.

Currency that must be accepted for payment.

A financial institution overseeing monetary policy.

A U.S. government agency that insures bank deposits.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Legal Tender?

Currency that must be accepted for payment of debts.

A bank chartered by the federal government.

A monetary system backed by gold.

A nonprofit financial cooperative.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Fiat money?

Fiat money is backed by gold reserves.
Fiat money is only used in international trade.
Fiat money is currency that has value because a government maintains it and people have faith in its value.
Fiat money is a type of cryptocurrency.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is commodity money

Commodity money is only used in barter systems.
Commodity money has no intrinsic value.
Commodity money is a digital currency without physical form.
Commodity money is money that has intrinsic value, derived from the commodity it is made of.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is na medium of exchange?

Money is a common medium of exchange.
Credit cards are not a medium of exchange.
Gold is the only medium of exchange.
Barter is a form of currency.

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