History of Money

Where did the name 'greenback' come from?

• Reference to the animal used for barter in earlier trade

• The color of ink used on the back side of one of the earliest currencies in the U.S.

• A term for the football team from Green Bay

• A person who is new to trade

What do we call the newest electronic currency?

• SmartCoin

• CryptoCurrency

• Greenback

• BitsNPieces

What is a fiat currency?

• Currency backed by a gold standard

• A currency used to purchase a car

• A currency backed by a physical commodity

• A currency that is declared a currency by the government, although not backed by a physical commodity

What was born first, currency or debt?

• Currency

• Debt

• They were created at the same time, out of the necessity to keep track of who owed what to whom.

What was the name of the currency used by Native Americans that was called legal tender by the Massachusetts Bay Company?

• Animal skins

• Coins

• Wampum Beads

• Paper Money

A currency that quickly lost its value due to overprinting was the:

• Cryptocurrency

• Facebook stock

• Continental Paper Money

• Greenback

Electronic Banking accounts for what percentage of all transactions today?

• 98%

• 75%

• 2%

• 33%

Counterfeiting is only a recent problem

• True

• False

This currency claims to be the most verifiable, divisible currency of all time

• Pennies

• Cryptocurrency

• Yen

• Gold Standard backed currency

What were the two the best parts of this lesson?

• The direct instruction

• The research & presentation

• The videos

• This quiz