Unit 4 Economics Review Quizizz

Medium exchange, standard or measure of value, and store of value are all types of--

(a)  

_________ _____ is a form of money which has an intrinsic value meaning it is worth something on its own right rather than simply being a token of financial value

(a)  

M​ oney that has value simply because the government says it has value is called ​ (a)  

• FIAT MONEY
• COMMODITY MONEY
• CURRENCY
• REPRESENTATIVE MONEY

a disadvantage of the barter system is that it is limited to

• no use of currency

• large markets

• availability and demand

• no consumer protection

Nationally Chartered Bank members, board members who serve 14-year terms, a a chairman appointed by the president, and 12 Federal districts are all parts of the

• stock exchange

• Federal Reserve System

• Treasury Department

• Washington DC

When the country is suffering from unemployment and needs to stimulate spending the Federal Reserve can do so by

• selling securities

• tightening monetary policies

• decreasing the discount rate

• increasing the reserve requirement

depending on the health of the economy the Federal Reserve can require Banks to hold more money as opposed to lending it by

• decreasing the discount rate

• decreasing the federal funds rate

• increasing the reserve requirement

• suspending the federal funds rate target

The Federal Reserve can have a strong influence on local economies by

• providing stimulus money for job creation

• raising or lowering property taxes

• requiring Banks to provide checking accounts to the community

• making loans cheaper or more expensive by adjusting interest rates

An example of the open market operations is

• US Treasury bonds

• Social Security

• Fiat money

• bartering

When our economy is suffering from a recession the Federal Reserve Bank will most likely

• raise the discount rates to affect the monetary Supply

• he's monetary policy making it easier to lend money

• tighten monetary policy making lending more difficult

• or reduce open market transactions to reduce the money supply

Answer explanation

During a recession there Is too much money in the economy and it's the responsibility of the Federal Reserve to pull back some of that money out of the economy.