Econ Test 10/4/23

Econ Test 10/4/23

12th Grade

21 Qs

quiz-placeholder

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Econ Test 10/4/23

Econ Test 10/4/23

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

Abigail Wilson

Used 1+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Kat is able to buy 50 chocolate bars with 5 $10 bill she earned. This is an example of money as..

Store of Value

Medium of Exchange

Standard of Value

Unit of Account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which function of money allows comparisons between goods?

Measure/Standard of Value

Store of Value

Order of Value

Value Added

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Fed controls the _________ in circulation

Flow

Interest rate

Money supply

Inflation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is at the top of the Federal Reserve System organisation?

12 Federal Regional Banks

Federal Open Market Committee

Member Banks

Board of Governors

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Their job is to set monetary policy in the US, which means they influence the availability of money in the US

Board of Governors

12 Federal Regional Banks

Federal Open Market Committee

Member Banks

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cartman is saving money to buy a car, this is an example of…

Money as a store of value

Money as a medium of exchange

Money as a standard of account

Money as the root of all evil

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Lexie puts his money in a savings account at Silver Bank. Would he earn more with Simple or Compound interest?

Simple because interest is determined annually

It would be the same amount

It depends mostly on the CPI

Compound because interest paid increases over time

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