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Forms of Money

Authored by Karen Lewis

Social Studies

12th Grade

Forms of Money
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8 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Medium of exchange, store of value, and measure of value are all…

Characteristics of money

Functions of money

Types of money

Measures of money

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The definition of Commodity Money can best be described as…

Paper money distributed by the U.S. government

Object that has intrinsic value in itself that also serves as money

Money in the form of cash and coin

Printed money from State banks

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

Commodity money can best be described as

trade goods or services between two people without the exchange of money.

a form of money which has an intrinsic value because it is precious like gold and silver.

currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value.

money that consists of goods traded like food and cars.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is NOT an example of Fiat money?

U.S. government announces it will now accept bottle caps as currency

Cavemen trade stone tools for cows

Dollar bills and coins we currently use

Early state bank dollar bills

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Specie is coin minted from gold and silver.

True

False

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

For currency to be used effectively, it is best if it portable, durable, and ________________.

Used as a store of value

Backed by gold or silver

Used as commodity money

Acceptable in exchange for goods and services

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