Currency/Economics Quiz

What is currency?

• The type of food a country eats

• The type of money a country currently uses

• The leader of the economy

True or False

Every country has the same currency.

• True

• False

Mrs. Davis wants to travel to Paris, France. She realizes she only has USDs in her wallet. Which of these should she use to convert her currency to the currency of France.

• Google

• Wikipedia

• Exchange Rate

• Currency Loan

Use the following exchange rate to convert from Pesos to USD.

1 Peso= 6 USD

Convert 7 Pesos to USD.

(a)  

The study of how money moves, is spent, and created is called?

• Geography

• Money Subject

• Economics

Out of the listed choices select the FOUR economic systems that we discussed in class.

• Command

• Neutral

• Traditional

• Mixed

• Market

In a COMMAND economy, who controls what happens in the economy.

• The government

• Business owners

In a Market economy, who controls what happens in the economy.

• The government

• Business Owners

True or False

In a TRADITIONAL economy, trading another piece of merchandise can be used as payment.

• True

• False

America's economy has some government control but also allows businesses to be free as well. What kind of economy does this demonstrate?

• Traditional

• Market

• Mixed