GSTS

What is considered the first form of money used by ancient civilizations?

• 1. 
     Gold coins

• 1. Cowry shells

• Silver

• Barter system

1. Which of the following is NOT a function of money?

• 1. Medium of exchange

• 1. Measure of national defense

• 1. Unit of account

• 1. Store of value

1. Which civilization is credited with the first use of coinage?

• Egyptians

• 1. Mesopotamians

• 1. Lydians

• 1. Greeks

What is "fiat money"?

• Money backed by a physical commodity such as gold

• Currency that has no intrinsic value but is declared as legal tender by a government

• Any form of digital currency

• Money that is widely accepted for trade in traditional markets

1. The total amount of money available in an economy at a specific time is referred to as:

• 1. Monetary policy

• 1. Money supply

• 1. Fiscal policy

• 1. Exchange rate

1. Which of the following best describes the 'barter system'?

• 1. Exchange of goods for goods without a standard currency

• 1. A form of digital currency used in modern economies

• A banking system that facilitates transactions

• 1. A system that regulates the money supply

1. Banknotes, as a form of currency, were first introduced in which country?

• Italy

• China

• England

• France

What does the term "fractional reserve banking" refer to?

• Lending out 100% of deposits

• Keeping only a fraction of deposits on reserve while lending the rest

• A system where banks do not lend money

• A type of currency that must be exchanged

What is the name of the first bank established in Italy in 1472?

• 
  Banco di Pablo

• Monte dei Paschi di Siena

• Banca d'Italia

• Banco di Napoli

1. What is the primary characteristic of cryptocurrency?
   

• 1. It is centrally regulated by a government.

• 1. It uses blockchain technology for secure transactions.

• 1. It has physical coins and notes.

• 1. It is only used for international trade.