
Money, Banking and Monetary Policy
Flashcard
•
Social Studies
•
11th - 12th Grade
•
Practice Problem
•
Easy
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60 questions
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1.
FLASHCARD QUESTION
Front
What is the exchange of one person's goods or services for another's?
Back
barter
2.
FLASHCARD QUESTION
Front
What kind of money is usually the first step out of a barter system?
Back
commodity
3.
FLASHCARD QUESTION
Front
Which of the following is not one of the three functions of money in economics? measure of value, means of storing purchasing power, means of payment, measure of social power
Back
measure of social power
4.
FLASHCARD QUESTION
Front
In order for money to have value, it must have all of the following characteristics EXCEPT: portability, durability, divisibility, plentiful availability.
Back
plentiful availability.
5.
FLASHCARD QUESTION
Front
This is money that has another useful purpose.
Back
commodity
6.
FLASHCARD QUESTION
Front
The United States once had silver certificates that were redeemable for silver held in the national treasury. What type of money was this?
Back
representative money
7.
FLASHCARD QUESTION
Front
The difference between representative money and fiat money is that
Back
representative money is backed by silver or gold; fiat money is not.
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