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Topic 6, Lessons 1 and 4 Quiz

Authored by Erick Taggart

Social Studies

12th Grade

Used 1+ times

Topic 6, Lessons 1 and 4 Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the functions of money?

Store of Value

Medium of Exchange

Unit of Account

Manner of payment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If money was not durable, what would likely happen?

It would be easy to carry

It would lose value quickly and need frequent replacement

It would be easy to compare prices

It would be accepted everywhere

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is money divisible?

It can be split into smaller units for transactions.

It can only be used in large amounts.

It cannot be divided at all.

It is only used for saving, not spending.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of commodity money?

Gold coins

Credit cards

Paper checks

Digital wallets

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What supports the value of fiat currency?

Trust in the issuing government

Unlimited supply

Personal ownership of printing facilities

Lack of alternatives

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

About 45% of M1 is made up of what?

Currency in circulation

Gold reserves

Savings accounts

Loans

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are banks able to make loans?

By using the money deposited by customers

By printing new money

By selling stocks

By collecting taxes

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