Federal Reserve

Federal Reserve

12th Grade

16 Qs

quiz-placeholder

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Federal Reserve

Federal Reserve

Assessment

Quiz

Business

12th Grade

Easy

Created by

Tommy Mccoy

Used 1+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

___________ is what money is doing when it serves as payment for goods or services.
barter
currency
medium of exchange

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four physical characteristics of money?
durable, scarce, acceptable and portable
portability, durability, divisibility and uniformity
green, small, uniform and durable

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity is important as an economic characteristic of money because___________
_____________.
We need to have plenty of money in circulation
too much money in circulation makes it worth less
the more you have the better off you are

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money must be durable because
_________________________.
it has to last for at least a few months
it can't fall apart easily or it won't work as well
it needs to be small enough to fit in your pocket

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Divisibility of money is an important characteristic because
_________________________.
it can't easily deteriorate
you need to be able to get change when it is more that the price of the good
it needs to be recognizable

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fiat money is accepted as payment because___________
_____________________.
it is backed by silver
it has separate value as another resource
the government says it must be accepted

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The stability of the government is important when it comes to which type of money?
commodity
fiat
representative

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