Search Header Logo

Chapter 14- development of Banking Systems

Authored by Hadam Benachou

Computers

8th Grade

Used 2+ times

Chapter 14- development of Banking Systems
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a barter economy?

An economy where goods are traded for other goods without the use of money.

An economy solely based on the use of digital currencies.

An economy where goods are purchased only with fiat money.

An economy that relies on government regulations for trade.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of money is described as having an alternative use as an economic good or commodity?

Digital money

Fiat money

Commodity money

Virtual money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What defines fiat money?

Money that is backed by physical commodities.

Money that has no intrinsic value and is not backed by a physical commodity, but is made legal tender by government decree.

Money that is exchanged electronically.

Money that is used in a barter economy.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of money was issued by the Continental Congress in 1775 to finance the Revolutionary War?

Commodity money

Specie

Fiat money with gold backing

Paper money with no gold or silver backing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following was NOT a form of money used in Colonial America?

Commodity money

Paper money issued by individuals

Electronic currency

Specie

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What backed the paper currency printed by individuals under state laws in Colonial America?

Nothing, it was unsupported

Gold and silver deposits in banks

Promises of future commodity deliveries

The authority of the Continental Congress

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which characteristic of money ensures that it can be easily transferred from one person to another?

Limited supply

Reasonably durable

Portable

Divisible

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?