Midterms_BanFin_Quiz1

Midterms_BanFin_Quiz1

University

25 Qs

quiz-placeholder

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Midterms_BanFin_Quiz1

Midterms_BanFin_Quiz1

Assessment

Quiz

Specialty

University

Practice Problem

Medium

Created by

MARYVIDA TUMBALI

Used 1+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of money?

To improve production techniques

To increase consumption

To serve as a medium of exchange

To create wealth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a function of money?

Medium of production

Unit of account

Store of value

Medium of exchange

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the central bank's role in the economy?

To collect taxes

To create jobs

To control the nation's money supply and interest rates

To provide loans to small businesses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which entity is responsible for regulating banks in the U.S.?

Securities and Exchange Commission

Treasury Department

Federal Reserve

Department of Commerce

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the money supply if the central bank buys government securities?

The money supply remains unchanged

The interest rates increase

The money supply expands

The money supply contracts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main purpose of a commercial bank is to:

Set interest rates

Issue currency

Facilitate financial transactions and provide loans

Regulate the money supply

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When banks make loans, they:

Only move existing money

Do not affect the money supply

Destroy money

Create money

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