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Money and Banking

Authored by Netesh Dukanti

Other

9th - 10th Grade

Used 17+ times

Money and Banking
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5 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The use of a mobile (cell) phone to make payments is an example of which function of

money?

a medium of exchange

a standard of deferred payment

a store of wealth

a unit of account

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A function of money is to act as a measure of value.

What does this mean?

It is used to compare the worth of different goods.

It is used to enable monthly payments for expensive goods.

It is used to pay the price of a good.

It is used for future savings.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the usual reason why citizens trust their country’s banknotes?

They are acceptable for trade and exchange.

They are backed by gold at the central bank.

They are convertible into the US$ or Chinese Yuan.

They are recognisable and in infinite supply.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What function does a central bank fulfil?

It prints and issues currency.

It offers overdraft facilities to individuals.

It operates deposit accounts.

It raises taxation.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement about a country’s banks is correct?

Commercial banks hold the financial accounts of the government.

Commercial banks offer loans to consumers and firms.

The central bank sets the government’s tax and spending policies.

The central bank supplies foreign currency to members of the public.

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