What was money originally backed by in modern currencies?

Exploring the Impact of Monetary Policy on Global Economies

Interactive Video
•
Social Studies
•
6th - 10th Grade
•
Medium

Sophia Harris
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Silver
Gold
Oil
Diamonds
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of money system do we use today, where currency's value is declared by the government?
Fiat money
Cryptocurrency
Commodity money
Barter system
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why must businesses within a country accept its currency?
Economic stability
Historical tradition
Government declaration
International agreement
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when a country manipulates its currency to be cheaper?
It stabilizes the economy
It boosts domestic industries
It encourages imports
It increases inflation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential negative effect of increasing the money supply too much?
Currency appreciation
Inflation
Deflation
Economic stagnation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can cause an economic crisis according to the video?
Low interest rates
Too much inflation
Excessive government regulation
Too much deflation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is deflation?
Increase in money supply
Decrease in employment rates
Decrease in general price levels
Increase in currency value
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