MoneyPower: Money, Intro Finance (10 Questions)

Which of the following does the Federal Reserve use to regulate the nation's money supply?

• Fiscal policy

• Proposing legislation

• Monetary policy

• Regulations

Purchases made with your debit card are usually:

• Deducted immediately from your checking account

• Deducted from your credit card balance

• Added to your credit card balance

• Put on your credit card bill as a cash advance

Money in the United States includes:

• Gold

• Checking account balances on which checks can be drawn

• Barter

• Diamonds

• Demand the ABC Credit Union reimburse her for Marie's unauthorized transaction

• File a complaint with the Federal Reserve Board to reimburse her for Marie's unauthorized transaction

• Demand that the bank where Marie has her checking account reimburse her for Marie's unauthorized transaction

• No bank or government agency is obligated to reimburse Susan because she authorized Marie to use her ATM card and PIN

Money for saving, investing, or spending cannot be from:

• An inheritance from someone who has died

• Discretionary income or a gift of money

• Capital gains from a sale of stock

Identify the background color of a U.S. $5.00 bill.

• Orange

• Blue

• Green

• Yellow

New coins and currency make their way into the general economy, consumers and businesses, through the distribution system of the:

• Treasurer of the United States

• Secretary of the Department of Treasury

• Federal Reserve System

• U.S. Federal Mint

A high school student has begun to investigate the field of finance as a career choice. In deciding about the field, the student should focus on which question first?

• Will I find a balance between financial rewards and personal satisfaction from work?

• How many people do I know who work in this field?

• Once I train for this area, how long before I will be at the top of the field?

• Are there people in this field who are dissatisfied with their jobs?

Which statement best describes the relationship between a person's educational level and that person's potential earning power?

• Education has no effect on a person's potential earning power

• A person with a professional degree is likely to earn at least four times as much per year as a person who did not complete high school

• Attaining a higher educational level affects the earning potential only for people over 40 years old

• Attaining a higher educational level decreases potential earning power

When money is not used and goods and services are exchanged for other goods and services, this system is called:

• Credit

• Money

• Barter