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WorksheetsEcon Money Management
Total questions: 25
Worksheet time: 12mins
Name
Class
Date
1.
In which era did electronic payments begin?
a)
Bartering Years
b)
Changing Times
c)
Modern Era
2.
Which of the following is NOT a characteristic of money?
a)
Durable
b)
Portable
c)
Concrete
d)
Uniform
3.
Money needs to be easy to carry which means it is
a)
Portable
b)
Durable
c)
Acceptable
d)
Divisible
4.
What are the 3 functions of money?
a)
Medium of exchange, long lasting, readily available
b)
Medium of exchange, storage, & unit of account
c)
Medium of exchange, ongoing, structured
d)
Storage, Unit of account, and readily available
5.
Do consumers tend to spend more or less with electronic forms of payment?
a)
They spend less because they don't view it as a form of money.
b)
They spend less because they are tracking it come out of their bank account on a regular basis.
c)
They spend more because they are not physically handling cash.
d)
They spend more because they have more of it.
6.
Workers who make goods and services are called
a)
capital goods
b)
human resources
c)
physical resources
d)
services
7.
The people in a nation who are 16 and over and are employed actively or looking for work are called
a)
employed
b)
labor
c)
labor force
d)
unemployed
8.
Generally speaking, if you have more education, your potential to earn more income is
a)
less.
b)
greater.
9.
T or F - Your credit report history includes information about late or missed payments.
a)
True
b)
False
10.
Which of the following is NOT a common reason for denying credit to someone?
a)
They have too many cards already open.
b)
Too much outstanding debt.
c)
They have too many delinquent credit obligations
d)
Too little time in current job
11.
Banks perceive your credit risk to be low when you
a)
have many credit cards open.
b)
have a low credit score.
c)
have a high credit score.
d)
score 350 on your credit report.
12.
T or F - The Federal Reserve approves all credit card purchases.
a)
TRUE
b)
FALSE
13.
T or F - It is within your credit rights to be able to obtain a free credit report every year.
a)
TRUE
b)
FALSE
14.
T or F - Saving and investing are the same thing.
a)
TRUE
b)
FALSE
15.
Savings & investing build wealth through
a)
compound interest
b)
risk
c)
trial and error
d)
calculated returns
16.
How do you calculate the Rule of 72?
a)
Multiply 72 times the interest rate
b)
72 divided by your principal amount
c)
72 divided by the months in a year
d)
72 divided by the interest rate
17.
What does the Rule of 72 calculate?
a)
How long it will take to retire based on a given interest rate.
b)
How long it will take for me to make money based on a given interest rate.
c)
How long it will take for your money to double based on a given interest rate.
d)
How long it will take to pay off your college debt.
18.
Why is saving important to the economy?
a)
When consumers save, banks are able to increase interest rates.
b)
When consumers
save, then banks or depository institutions have money
available for other consumers and businesses to borrow.
c)
When consumers save, banks are able to do more marketing.
d)
When consumers save, the economy is guaranteed to stay in prosperity.
19.
Which investment in this list has the most risk?
a)
Savings Account
b)
Stock
c)
Money Market Account
d)
CD
20.
Which investment in this list has the greatest potential for return?
a)
CD
b)
Savings Bond
c)
Savings Account
d)
Mutual Funds
21.
The US's central bank is called the
a)
IRS
b)
The White House
c)
The Federal Tax Institute
d)
Federal Reserve
22.
T or F - U.S. monetary policy affects many economic and financial decisions people make daily.
a)
TRUE
b)
FALSE
23.
Which monetary policy tool requires deposit institutions to put money aside and not spend it?
a)
Open Market Operations
b)
Federal Funds Rate
c)
Discount Rate
d)
Reserve Requirements
24.
T or F - The discount rate is decreased in order to stimulate the economy?
a)
TRUE
b)
FALSE
25.
The goals of the Federal Reserve are to
a)
To help promote
stable prices and a healthy and growing economy
b)
To keep flexible spending and market forces present
c)
To help promote spending and savings
d)
To reduce the amount of foreign investments and grow the economy
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