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IG economics-unit 3

Authored by Dorothy Li

Specialty

10th Grade

Used 3+ times

IG economics-unit 3
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18 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a function of a central bank?

collecting taxes

issuing currency

providing bank accounts for individuals

setting foreign trade tariffs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a function of a commercial bank?

acting as the lender of last resort

deciding what is a legal tender

determining monetary policy

providing overdrafts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A central bank acts as a lender of last resort especially in times of financial crisis.

What is the purpose of this function?

to cover credit card debts of consumers

to provide liquidity to the bank system

to remove failing banks from the financial system

to safeguard the profits of the banking system

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

‘Savers suffer as inflation rises to 4.4 %.’

Which function of money is most involved in this statement?

means of deferred payments

medium of exchange

store of value

unit of account

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For anything to be used as money, it must be

a fixed value.

in fixed supply.

legal tender.

readily acceptable

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor is likely to cause an increase in people’s savings?

an increase in tax rates

an increase in the interest rate

a reduction in economic uncertainty

a reduction in real wages

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On completing your studies, you decide you want to work in an organisation that is big enough to give you a chance of promotion but where weekend or shift work will not normally be required.

Which would be the best one to choose?

a dental surgery

a hairdressing salon

an income tax office

a newspaper publisher

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