Which of the following accurately completes the graphic?
Money and The Federal Reserve Test Review

Quiz
•
Social Studies
•
12th Grade
•
Medium
Amy Dick
Used 19+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Types of money
Federal Reserve notes
Characteristics of money
Functions of money
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Commodity money can best be described as —
trade goods or services between two people without the exchange of money
currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves
a form of money which has an intrinsic value, meaning it is worth something in its own right rather than simply being a token of financial value
money that consists of a token or certificate that can be exchanged for a specific good, such as gold, silver, or potentially water, oil, or food
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Money that has value simply because the government says it does is called —
credit
currency
fiat money
representative money
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
One of the disadvantages of operating a barter system is that trading is —
taking place without currency
carried out in very large markets
limited by availability and demand
conducted without consumer protections
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
One advantage to using a debit card is that it allows the user to —
build a strong credit score
repay credit card debts faster
access currency without carrying cash
purchase goods without having any money
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following best completes the graphic?
Stock Exchange
Federal Reserve System
Treasury Department
Washington, D.C.
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
In order to require banks to hold more money as opposed to lending it, the Federal Reserve can —
decrease the discount rate
decrease the federal funds rate
increase the reserve requirement
suspend the federal funds rate target
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