
econ-test chapters 10,11,12
Authored by Lou Krutz
Education
12th Grade

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51 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything that society generally accepts as payment is called ____?
money
fiscal policy
monetary policy
barter
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The exchange of goods/services for other goods/services is called ____?
money
fiscal policy
monetary policy
barter
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Purchasing Power is ____?
the ability to buy goods/services
the value of a currency
the strength of a nation's economy
value that only applies to full-bodied coins
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of currency that uses a single good as money is called ____?
commodity money
fiat money
representative money
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of currency that represents a commodity in storage is called ____?
commodity money
fiat money
representative money
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What two things must be true to keep fiat money valuable?
Faith the others will accept it
Limited quantity of money supply
Used by other countries
Be easy to transport
Be easily divisible
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT a desirable characteristic of money?
Portability
Divisibility
Low liquidity
Durability
Stability
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