Unit 4 review

Unit 4 review

12th Grade

10 Qs

quiz-placeholder

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Unit 4 review

Unit 4 review

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

Ryan Graves

Used 15+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a function of money?

Value unit

Medium of exchange

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

      2.   Which of the following necessary qualities and definitions of money is correct?

Divisible

Durable

Portable

ALL

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

      3.  What two main goals(dual mandate) has Congress given the Federal Reserve?

Price stability and maximum employment

economic stability and maximum stock market value

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

      4.  What is the FOMC’s target rate for inflation?

Average of 2% over time

No inflation at all

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

      5.  How are the seven members of the Board of Governors chosen and how long is their term?

Nominated by the president, approved by the Senate, serve a 14 year 

                       staggered term.

Appointed by the Federal Reserve chairman and serve 6 years.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 6. How can the FOMC adjust policy if it thinks the economy is overheating with inflation rising above its price stability target?

 raise the unemployment rate

Raise the fed funds rate(interest rates)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. How can the FOMC adjust policy if it thinks the economy is weakening with employment falling below its maximum level?

 raise the unemployment rate

Lower the fed funds rate(interest rates)

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