8 Money and Banking Part 1

8 Money and Banking Part 1

13 Qs

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8 Money and Banking Part 1

8 Money and Banking Part 1

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Created by

Eric Thorson

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13 questions

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1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Money functions as a

medium of exchange
standard of value
store of value
pizza

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An entrepreneur who needs financial help in buying new equipment for her business might take out a

commercial loan
mortgage loan
certificate of deposit
consumer loan

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In the intro to chapter 8 the guy started with a ____ and ended up with a_____.

paper clip, house
house, paper clip
1000 dollars, and some hot Cheetos

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a barter?

i don't know
exchange of stuff for goods or services
nothing
a system of money in general use in a particular country

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is a bank's main function?

to protect the nation's financial status
to serve as a financial intermediary between savers and borrowers
to issue Federal Reserve notes, (paper currency)
to make sure consumers save enough money for retirement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The system in which banks keep a portion of deposits in reserve and make loans with the rest is known as

fractional reserve banking
the barter method
401(k) retirement plans.
The Federal Reserve

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of these IS an example of an "emergency" expense?

Phone Upgrade
A bigger/nicer apartment for yourself
Disneyland Annual Pass
a functioning car after an accident

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