Money and Currency Quiz

Which of the following is NOT a function of money?

• Medium of exchange

• Store of value

• Unit of account

• Barter system

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DOK Level 2: Skill/Concept

What characteristic of money ensures that it can be easily divided into smaller units?

• Durability

• Portability

• Divisibility

• Uniformity

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DOK Level 2: Skill/Concept

Which of the following best describes the barter system?

• Exchange of goods and services without using money

• Use of coins and paper money for transactions

• Digital transactions using electronic money

• Government-issued currency

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DOK Level 2: Skill/Concept

Which form of currency is issued by the government and has no intrinsic value?

• Commodity money

• Fiat currency

• Representative money

• Digital currency

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DOK Level 2: Skill/Concept

What is the primary difference between money and currency?

• Money is a physical object, while currency is a concept

• Money includes all forms of wealth, while currency is a specific type of money

• Money is issued by the government, while currency is not

• Money is used for transactions, while currency is not

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DOK Level 2: Skill/Concept

Which of the following is an example of fiat currency?

• Gold coins

• Silver bars

• U.S. dollar

• Bitcoin

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DOK Level 2: Skill/Concept

What is income?

• The total amount of money spent

• The total amount of money earned

• The total amount of money saved

• The total amount of money borrowed

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DOK Level 2: Skill/Concept

Which of the following is NOT a type of income?

• Earned income

• Passive income

• Portfolio income

• Barter income

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DOK Level 2: Skill/Concept

Which characteristic of money ensures that it retains its value over time?

• Durability

• Portability

• Divisibility

• Stability

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DOK Level 2: Skill/Concept

Which of the following is an example of earned income?

• Interest from a savings account

• Dividends from stocks

• Salary from a job

• Rental income

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DOK Level 2: Skill/Concept