Money and fractions

What is money?

• Any object that is generally accepted as payment for goods

• Any object that is generally accepted for the repayment of debt.

• Any object that is generally accepted as payment for goods and services and the repayment of debt.

• Electronic cryptocurrencies

• None of the above

Which of the following is NOT money as defined by Central Banks?

• bills and coins

• a credit card

• electronic transfers via PayPal

• bitcoin

• all of the above are money

Which is a function of money?

• Medium of Exchange

• Unit of Account

• Store of Value

• All of the above

• None of the above

Which of the following would be a good substitute of money?

• Coffee seeds

• Silver coins

• Sea shells

• All of the above

• None of the above

Which are characteristics of money?

• portable and durable

• divisble

• hard to counterfeit (copy)

• all of the above

• none of the above

Carlos goes to the store to buy

 $\frac{2}{3}$   of tomatoes,  $\frac{3}{4}$  of onions and  $\frac{8}{5}$   of lemons. How much weight is he carrying?

• 3 kg

• 60/120

• 13/12

• 181/60

• none of the above

At the entrance of the mall Carlos´dad gave him an amount of money to spend. Carlos spend 3/7 of the money at a cloth store and 2/5 of the money is a meal. How much he has left at the end of the day?

• $\frac{2}{3}$

• $\frac{3}{7}$

• $\frac{6}{35}$

• $\frac{3}{35}$

• none of the above

For a 3 day camp the host estimates to spend about 4/15 of food per day per kid. How much food would be used in the first day if there are 32 kids coming?

• 32/15

• 128/15

• 12/15

• all the food they have

• we can´t tell from the information provided

The school purchased $33\frac{4}{5}$  meters of cloth to make the bands for the graduating class. If the class is made up of 28 students. What is the length of the band of each student?

• 28/5

• 14/10

• 169/100

• 169/140

• none of the above

If Carlos spend 3/4 of the estimated gas for a trip in 7 days. Assume he travels everyday the same distance at a similar speed. Which is a correct statement?

• Carlos spend about 3/28 of gas per day

• Carlos spend about 3/14 of gas every 2 days

• Carlos spends almost all his gas budget in 9 days

• All of the above

• None of the above