Money

Money

10th Grade

5 Qs

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Money

Money

Assessment

Quiz

Education

10th Grade

Practice Problem

Hard

Created by

Ruby Gerada

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a function of money?

Medium of exchange

Store of value

Barter system

Unit of account

Answer explanation

The barter system is not a function of money; it is an alternative method of trade that does not involve money. Money serves as a medium of exchange, store of value, and unit of account, unlike the barter system.

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What characteristic of money ensures that a €1 coin always holds the same value as another €1 coin?

Uniformity

Acceptability

Portability

Divisibility

Answer explanation

Uniformity ensures that each €1 coin is identical in size, weight, and appearance, guaranteeing that one €1 coin always holds the same value as another. This characteristic is essential for maintaining trust in the currency.

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

If a country prints too much money, what economic problem could arise?

Deflation

Hyperinflation

Barter System

Increased Savings

Answer explanation

Printing too much money can lead to hyperinflation, where prices rise rapidly as the currency loses value. This occurs because an excess supply of money decreases its purchasing power, causing inflation to spiral out of control.

4.

MULTIPLE CHOICE QUESTION

30 sec • 4 pts

Which of the following is an example of a form of money that operates digitally?

Gold Coins

Cryptocurrency

Cash

Bartering

Answer explanation

Cryptocurrency is a form of money that exists only in digital form, unlike gold coins, cash, or bartering, which are physical or traditional methods of exchange.

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which type of money is easiest to transport?

50 kg of wheat

A cow

A gold bar

A €50 note

Answer explanation

A €50 note is the easiest to transport because it is lightweight and compact compared to 50 kg of wheat, a cow, or a gold bar, which are all bulky and heavy.

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