What is money?

Anything that is accepted as payment for goods and services

• Money

• Coins

• Bills

• Debts

Money that is backed by reputation alone

• Gold Money

• Coffee beans

• FIAT Money

• ALFA Money

Answer explanation

FIAT Money is backed by reputation alone. It is not backed by a physical commodity like gold or coffee beans. ALFA Money is not a recognized form of currency.

Money in the bank that you can draw a check on

• Checkable Deposits

• Locked Deposits

• IOU notes

• FIAT Money

Answer explanation

Checkable Deposits are money in the bank that you can draw a check on. They are the correct choice because they can be easily accessed and used for transactions.

Who prints new money ?

• US Treasury

• US Commerce Dept

• Quick Print

• Federal Reserve

Answer explanation

The US Treasury prints new money. It is responsible for the production and circulation of currency in the United States.

Who distributes the money?

• US Treasury Dept

• USPS

• Federal Reserve

• IRS

Working for oneself as a freelance or the owner of a business rather than for an employer:

• Self-Employment

• Employment

• Unemployment

• Full employment

An asset or item that is purchased with the hope that it will generate income or appreciate in the future

• Investment

• FIAT

• Savings Account

• Speculation

Answer explanation

An investment is an asset or item purchased with the expectation of generating income or appreciating in value over time. It is a long-term financial strategy that involves putting money into various financial instruments or ventures to achieve future financial goals.

A sudden, unexpected piece of good fortune or personal gain, like finding an old, forgotten $20 bill in your high school jacket on the day you forgot your lunch money.

• Surplus

• Profit

• Goodfall

• Windfall

The next best alternative that is sacrificed when a student decides to spend their evening studying instead of going out with friends

• Windfall

• Opportunity Cost

• Choice Cost

• Alternate Cost

Answer explanation

Opportunity cost is the next best alternative that is sacrificed when a student decides to spend their evening studying instead of going out with friends.

Time worked in addition to one’s normal working hours

• overtime

• regular time

• extra time

• sudden death

Answer explanation

Overtime refers to the additional time worked beyond one's normal working hours. It is the correct choice in this context.