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What is money?

Authored by Bruce Ruddock

Business

9th - 12th Grade

Used 31+ times

What is money?
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything that is accepted as payment for goods and services

Money

Coins

Bills

Debts

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who distributes the money?

US Treasury Dept

USPS

Federal Reserve

IRS

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Self-Employment

Employment

Unemployment

Full employment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.

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