
Economic Factors
Authored by Emily Young
Business
4th Grade
CCSS covered
Used 11+ times

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14 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Who sets the bank interest rate?
De la rue.
The Bank of England
Bitcoin
The Queen
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is interest?
Interest that is calculated on the principal plus the interest that has been charged or paid so far.
The cost of borrowing someone else's money.
This means that at least 51% of all of the people who are given the product are charged that interest rate; the other 49% of customers are charged a different rate of interest.
The increase in prices over time, as measured by how much a typical ‘basket’ of goods costs.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If interest rates go up what is the impact?
Encourages spending.
Encourages saving.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a fixed interest rate?
The interest paid on savings after income tax has been taken off.
The original amount of money put into something or taken as debt.
The interest paid on savings before income tax has been taken off.
An interest rate that is set at a particular amount for a particular period of time and does not change for that period.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When interest rates fall, this is bad news for people with:
credit cards.
mortgages.
overdrafts.
savings.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an exchange rate?
The rate at which goods are exchanged between two countries
The price of one nation's currency in terms of another's
How many US dollars you can exchange for RMB at Travelex
The price of goods in terms of a foreign currency
Tags
CCSS.6.RP.A.3B
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is an exchange rate determined in the money market?
The forces of supply and demand
Government/the Federal Reserve Bank
Whatever sellers of goods are willing to take
Investors decide the value of the currency they wish to invest
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