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Economic Basics

Authored by Zaquerie Munson

History

8th Grade

Used 22+ times

Economic Basics
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Oil production is decreased due to a hurricane, causing gasoline prices to rise nationwide.

Macroeconomics

Microeconomics

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A local grocery store issues coupons for milk

Microeconomics

Macroeconomics

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the system of trading goods and services for other goods and services called?

Arbitrage

Bartering

Commoditization

Monopsony

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Throughout history, these metals were the most common form of money:

Copper and Tin

Gold and Silver

Iron and Nickel

Lead and Aluminum

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where was the first paper currency used?

China

Egypt

England

The United States

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What year did U.S. Congress pass the Federal Reserve Act to establish control of the money supply?

1776

1787

1861

1913

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the name of the shared currency used by 19 European countries?

Franc

Euro

Kronor

Pound

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