Fund of Money/Pers Fin Basics Review

What are some means of financial exchange?

• cash

• credit cards

• debit cards

• all of these

Forms of cash include:

• paper money and coins

• checks and coins

• assets and paper money

• checks and paper money

A debit card is safer than cash.

• True

• False

Money supply refers to the total amount of monetary assets available in a country’s economy during a certain time.

• True

• False

____________________________ affects money demand.

• level of profit

• interest accumulation

• level of income

• uemployment rates

What year did congress establish the first bank in the U.S.?

• 500 BC

• 1791

• 1776

• 1793

Gold standard refers to a when a standard mass of gold defines the currency unit.

• True

• False

The Federal Reserve Act was not passed in response to the financial panics of 1893-1907.

• True

• False

An example of a variable expense is:

• the amount of money earned on a set interval basis

• the amount of money you take home after taxes and deductions have been made on your paycheck

• a utility bill, it will be different every month because it depends on how much electricity you use

• your monthly mortgage payment

Prioritizing is the least important part in making a plan.

• True

• False