
6/4 Warm Up: Cryptocurrency
Authored by CHRISTOPHER JOHNSON
Professional Development
12th Grade
Used 1+ times

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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is fiat money?
Digital currency
Money backed by a physical commodity
Government-issued currency not backed by a physical commodity
Cryptocurrency
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does cryptocurrency differ from traditional currency?
It is issued by governments
It is a physical form of money
It operates on a decentralized network
It is backed by gold
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one advantage of using Bitcoin?
Unlimited supply
Centralized control
Anonymity in transactions
Backed by physical assets
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is blockchain technology?
A type of physical currency
A centralized database
A distributed ledger technology
A government-issued bond
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary reason dollars and coins are accepted as currency in the U.S.?
They are made of precious metals.
They are issued by the government.
They are backed by gold reserves.
They are universally used worldwide.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do most people believe fiat money will retain its value?
It is made of durable materials.
It is accepted by everyone as currency.
It is used only in the U.S.
It is a new form of currency.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does fiat money have value?
It is made of precious metals
It is backed by a physical commodity
It is accepted by governments and people
It is used only in digital transactions
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