Money

Money

Assessment

Flashcard

Social Studies

11th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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25 questions

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1.

FLASHCARD QUESTION

Front

ATMs receive deposits, give out funds, accept payments, and ______________.

Back

transfer funds between accounts

2.

FLASHCARD QUESTION

Front

The Federal Reserve System was established to ______________.

Back

control the amount of money in circulation

3.

FLASHCARD QUESTION

Front

Representative money is money that is _______________.

Back

backed by a valuable item, such as gold

4.

FLASHCARD QUESTION

Front

Which of the following is not a function of money? medium of exchange, unit of accounting, store of value

Back

interest-bearing instrument

5.

FLASHCARD QUESTION

Front

The FDIC was created to _______________.

Back

increase depositors' confidence in the banking system with insurance

6.

FLASHCARD QUESTION

Front

One of the drawbacks of electronic funds transfer is _______________.

Back

the possibility of tampering is increased because records are stored on a computer

7.

FLASHCARD QUESTION

Front

A seller accepting money for a service reflects the use of money as _______________.

Back

a medium of exchange

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