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Unit 1 Part 2 Quiz - EPF

Authored by Marcella Caballero

Financial Education

12th Grade

Used 2+ times

Unit 1 Part 2 Quiz - EPF
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The percentage of deposits that banks cannot loan out is called the

Reserve requirement

Discount rate

Open market operation

Federal funds rate

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What goods are NOT included in GDP?

Financial transactions, used goods, final goods

Intermediate goods, non-production transactions, non-market/illegal activities

Intermediate goods, non-production transactions, exports

Exports, used goods, non-market/illegal activities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The goals, tools (idk cant read it) of fiscal policy are

Taxes and open market operations

Government spending and taxes

Discount rate, reserve requirement, an open market operations

Government spending and discount rate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The three functions of money are:

Store of value, medium of exchange, fiat money

Medium of exchange, unit of account, store of value

Medium of exchange, store of value, commodity money

Unit of account, store of value, barter

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The job of the Federal Reserve is to

draft pieces of legislation aimed at stabilizing the economy

print and maintain money supply

regulate banks and make sure people have faith in the U.S. financial system

monitor the gold supply in the United States

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fiscal policy is actions taken by ___ to stabilize the economy

producers

the Federal Reserve Bank

lawmakers

the U.S. Department of Labor

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When would the Federal Reserve want to use contractionary monetary policy?

To balance the federal budget

To fight unemployment

To fight inflation

To move the U.S> economy out of a recession

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