What is the name of our nation's central bank?

The United States National Bank

The National Bank of the United States

"The Fed" refers to the....

Federal Bureau of Investigation

What is the gold standard?

one unit of currency is equal to a set amount of gold

the level by which gold is judged

the use of gold as a medium of exchange

the idea that gold can buy everything

How many members are on the Board of Governors?

7 Governors + 12 Reserve Bank Presidents+ NY Reserve Pres

12 Presidents of the Reserve Banks

4 Governors + 4 Reserve Presidents + 1 Economist

What is a family most likely to do if they want to purchase a home?

purchase a certificate of deposit

Which of the following statements about M1 Assests is true?

M1 assets can be converted into cash easily.

M1 assets cannot be converted easily into cash

M1 assets are stored in savings accounts.

M1 assets do not have liquidity.

In which of the following is a positive aspect of using a credit card?

using a credit card allows consumers to buy goods even if they don't have cash

the interest charged on credit cards is lower on all other types of loans

with a credit card, money is automatically deducted from the user's bank account

credit card bills can quickly add up if the conusmer only pays the minimum

Which of these describes the Fed’s Board of Governors?

There are seven of them, chosen by the President to serve fourteen-year terms.

There are fourteen of them, elected by popular vote every four years

There are twelve of them, chosen by the President to serve four-year terms.

There are seven of them, each of them also serving in a Congressional financial subcommittee.

In a recession, the Fed would likely

Increase the supply of money in the economy

Decrease the supply of the money in the economy

If the United States is experiencing inflation, the Fed will likely

Decrease the supply of money in the economy

Increase the supply of money in the economy

Ch 9 Review

Authored by Laquanta Jackson

Social Studies

12th Grade

Used 19+ times

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49 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What function of money the picture represent?

Medium of Exchange

Store of Value

Unit of Account

Acceptable

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What function of money the picture represents?

Medium of Exchange

Store of Value

Unit of Account

Durable

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What function of money the picture represents?

Medium of Exchange

Store of Value

Unit of Account

Stable

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At the grocery store last week, you purchased $94.25 worth of groceries. You paid for the groceries in cash. You gave the cashier four $20 bills, a $10 bill, three $1 bills, and a quarter. What is the primary function of money exhibited here?

Medium of Exchange

Store of Value

Unit of Account

Acceptable

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At the grocery store last week, you had to decide whether to buy the 14.5 oz can of diced tomatoes for $1.75 or the 28 oz. can of diced tomatoes for $2.44. What is the primary function of money exhibited here?

Medium of Exchange

Store of Value

Unit of Account

Divisible

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is NOT a characteristic of money?

Divisible

Portable

Acceptable

Accessible

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What characteristic of money the picture represents?

Divisible

Acceptable

Portable

Stable

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Ch 9 Review

What function of money the picture represent?

What function of money the picture represents?

What function of money the picture represents?

At the grocery store last week, you purchased $94.25 worth of groceries. You paid for the groceries in cash. You gave the cashier four $20 bills, a $10 bill, three $1 bills, and a quarter. What is the primary function of money exhibited here?

At the grocery store last week, you had to decide whether to buy the 14.5 oz can of diced tomatoes for $1.75 or the 28 oz. can of diced tomatoes for $2.44. What is the primary function of money exhibited here?

What is NOT a characteristic of money?

What characteristic of money the picture represents?

What characteristic of money the picture represents?

What characteristic of money the picture represents?

This type of money is valuable because it is made of something valuable.

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