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WorksheetsCFM & Money Review
Total questions: 17
Worksheet time: 9mins
Name
Class
Date
1.
Sudden changes in supply of productive resources & consumer demand causes...
a)
price changes
b)
commodity changes
c)
fiat currency
d)
supply fluctuation
2.
What do governments provide for the market?
a)
private goods & services
b)
public goods & services
3.
Businesses & households provide government with...
a)
taxes
b)
sales
c)
private goods & services
d)
interest
4.
In terms of resources, what do households provide for businesses?
a)
loans
b)
savings
c)
productive resources
d)
private goods
5.
In terms of resources, what do businesses provide for households?
a)
income
b)
sales
c)
taxes
d)
private goods
6.
In terms of products, what do households provide for businesses?
a)
sales
b)
taxes
c)
private goods
d)
savings
7.
What do banks provide for households & businesses?
a)
loans
b)
savings
c)
sales
d)
public services
8.
What do businesses & households provide for banks?
a)
savings
b)
loans
c)
mortgages
d)
private services
9.
The Circular Flow model proves that the sectors of the economy are...
a)
independent
b)
dependent
c)
interdependent
d)
round
10.
Anything traded broadly for goods & services in an economy.
a)
Medium of exchange
b)
Purchasing power
c)
Bartering
d)
Commodity
11.
An item that has value in and of itself.
a)
commodity
b)
fiat
c)
barter
d)
representative money
12.
Which is an example of a common form commodity money?
a)
gold
b)
cattle
c)
chicken
d)
corn
13.
Representative money is redeemable for a certain amount of a...
a)
scarce good
b)
inflation
c)
fiat
d)
commodity
14.
The value of fiat currency comes from acceptance as money, usually by declaration of legality from government.
a)
True
b)
False
15.
T/F: Fiat currency has no value in and of itself.
a)
True
b)
False
16.
T/F: Representative money is typically in paper form called "specie".
a)
True
b)
False
17.
Inflation & deflation (aka recession) affects the ____________ of an economy's currency.
a)
commodity
b)
medium of exchange
c)
purchasing power
d)
portability
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