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EOY economics

Authored by Dona Owen

Social Studies

11th - 12th Grade

Used 33+ times

EOY economics
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34 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

1. When someone buys something they are using money as--

a medium of exchange.

a store of value

a measure of value.

a fiat instrument

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One of the advantages of a debit card is--

you can buy things even if you don’t have money in the bank.

it is the same as using cash.

items you buy with it are insured.

you can purchase items with pre-tax dollars.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the economy were suffering from excessive inflation an appropriate monetary policy combination might include which of the following Federal Reserve tools?

Raise the discount rate, increase the required reserve, and buy bonds.

Raise the discount rate, increase the required reserve, and sell bonds.

Lower the discount rate, increase the required reserve, and buy bonds.

Lower the discount rate, increase the required reserve, and sell bonds.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One of the disadvantages of a credit card is--

you may over extend yourself.

your losses are unlimited in the event of theft of your card.

you can accrue frequent flier miles.

you must be 25 to get one.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Something that is used as money because the government says it is legal tender is called

commodity money

fiat money.

representative money.

legus tenderus.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the economy were suffering from a recession an appropriate monetary policy combination might

include which of the following Federal Reserve tools?

Raise the discount rate, increase the required reserve, and buy bonds.

Raise the discount rate, increase the required reserve, and sell bonds.

Lower the discount rate, lower the required reserve, and buy bonds

Lower the discount rate, lower the required reserve, and sell bonds.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When the Federal Reserve follows expansionary policy the following chain of events occurs

They increase the money supply, interest rates rise, businesses and consumers borrow less, and the economy grows.

They increase the money supply, interest rates rise, businesses and consumers borrow more, and the economy grows.

They increase the money supply, interest rates fall, businesses and consumers borrow less, and the economy grows.

They increase the money supply, interest rates fall, businesses and consumers borrow more, and the economy grows.

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