Money

Money

12th Grade

17 Qs

quiz-placeholder

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Money

Money

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Michael Alberts

Used 580+ times

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17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which one is money ?

cash
cheque
draft
all the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Barter system is now replaced by

Banking system
International system
Monetary system
Financial system

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between representative money and fiat money is that

representative money is worth more than fiat money.

fiat money is counted in coins; representative money is counted in paper dollars.

fiat money is more durable than representative money.

representative money is backed by silver or gold, ; fiat money is not.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What effect does inflation have on the purchasing power of money?

Causes it to go down

Causes it to go up

None

The effect varies depending on the time and place.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During times of hyperinflation

people often adopt something other than the official currency to use as money

people hoard the official currency

the purchasing power of the currency increases rapidly

the money supply is decreasing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a characteristic of money?

Divisibility

Portability

Acceptability

Responsibility

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to use an asset as a medium of exchange describes its....

portability

scarcity

durability

liquidity

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