Money and Banking

Paper currency is

• a bond

• fiat money

• commodity money

• barter money

The fact that gold that the Dutch were using in trade 500 years ago is still with us today demonstrates which characteristic of money?

• divisible

• durable

• infinite

• fungible

The largest portion of M1 is made up of

• currency

• checking account deposits

• savings account deposits

• money market fund shares

Credit cards are considered  

• part of M1

• part of M2

• part of M3

• not part of the money supply

Gold is an example of

• barter money

• M1

• commodity money

• fiat money

The current U.S. dollar has

• little intrinsic value but is backed by the gold held by the central bank.

• little intrinsic value and is authorized by the governmental body.

• intrinsic value that is independent of its use as money.

• value, but it needs to be traded for gold by the central bank.

What are the characteristics of money?

• Durability, Uniformity

• Portability, Divisibility

• Limited Supply, Acceptability

• All of the above

Have you tried an online quiz like this before?

• Yes

• No

Would you like to work on would end of the class multiple choice questions with this system instead of raising your hand?

• Yes

• No