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Worksheetshistory of money
Total questions: 11
Worksheet time: 8mins
Name
Class
Date
1.
Exchange of one good or service for another
a)
Barter
b)
Money
c)
Swindling
d)
Theft
2.
Anything that is used as a medium of exchange, a unit of account, and a store of value?
a)
Fiat Money
b)
Currency
c)
Barter
d)
Money
3.
Anything that is used to determine value in an exchange?
a)
Currency
b)
Store of value
c)
Medium of exchange
d)
Unit of account
4.
Objects that have value in themselves as well as their value as a means of exchange are called?
a)
Currency
b)
Commodity money
c)
Simple money
d)
Customs
5.
What is the gold standard?
a)
A system that uses actual gold coins as a country’s money
b)
A system in which the country’s money is backed with gold
c)
A currency system in which each dollar is worth 1/20th of a pound of gold
d)
A money system in which the paper currency is good in more than one country
6.
Fractional reserve banking is?
a)
Device that allows it holder to buy goods based on a promise to pay
b)
Specific type of loan that is used to buy real estate
c)
System in which banks are split into smaller banks to allow people more access
d)
System that keeps only a small part of a deposit on hand and lends out the rest
7.
What are the three functions of money?
a)
medium of exchange, store of value, unit of account
b)
medium of exchange, store of value, provides barter
c)
store of value, medium of exchange, creates instability
8.
Identify this coin
a)
Dime
b)
Quarter
c)
Nickel
d)
Penny
9.
Identify this coin
a)
Nickel
b)
Penny
c)
Dime
d)
Quarter
10.
What is the name of this coin?
a)
Dime
b)
Quarter
c)
Penny
d)
Nickel
11.
What is the name of this coin?
a)
Quarter
b)
Dime
c)
Nickel
d)
Penny
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