
Money Exam
Authored by Zelda Sendejo
Social Studies
12th Grade
Used 10+ times

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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you use money to purchase your lunch, that cost $4.99, money is serving which role(s)?
I. medium of exchange
II. store of value
III. unit of account
I only
II only
III only
I and III only
I, II, and III
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you decide you want “$20 worth” of a product, money is serving which role(s)?
I. medium of exchange
II. store of value
III. unit of account
I only
II only
III only
I and II only
I, II, and III
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the United States, the dollar is
backed by silver.
backed by gold and silver
commodity-backed money.
commodity money.
fiat money.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The double coincidence of wants problem can be solved by
more resources
more production
money
economic growth
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the best example of using money as a store of value?
A customer pays in advance for $10 worth of gasoline at a gas station.
A babysitter puts her earnings in a dresser drawer while she saves to buy a bicycle.
Travelers buy meals on board an airline flight.
Foreign visitors to the United States convert their currency to dollars at the airport.
6.
OPEN ENDED QUESTION
3 mins • 1 pt
The U.S. dollar derives its value from what? That is, what “backs” U.S. currency?
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7.
OPEN ENDED QUESTION
3 mins • 4 pts
What other two types of money have been used throughout history? Define
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