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Civics 7 Money Management Review 2

Total questions: 15

Worksheet time: 15mins

Name
Class
Date
1.

In what district is San Francisco the location for the Federal Reserve?

a)

4

b)

8

c)

12

d)

16

2.

What Federal Reserve district is Tuscaloosa in?

a)

Dallas

b)

Atlanta

c)

St. Louis

d)

Kansas City

3.

In what city is the Federal Reserve located in district 11?

a)

Dallas

b)

Atlanta

c)

Richmond

d)

Cleveland

4.

The dollar value of all goods and services produced annually in the United States is called

a)

The national debt

b)

Gross domestic product

c)

The federal deficit

d)

Mass production

5.

Today, a significant portion of the U.S. workforce is dedicated to

a)

Producing goods

b)

Providing services

c)

Inspecting meats and other foods

d)

Transporting goods

6.

To prevent depositors form losing money in bank failures, the government established the

a)

Federal Reserve System

b)

National Credit Union Association

c)

Resolution Trust Corporation

d)

Treasury Department

7.

The 12 Federal Reserve System Federal Reserve banks

a)

Handle the banking needs of the U.S. government

b)

Control the banking system

c)

Lend money to other banks

d)

All the above

8.

If a person accidentally writes a check for more than the amount in his or her bank account, he or she

may be charged a(n)

a)

Overdraft penalty

b)

Down payment

c)

Premium

d)

Credit

9.

In which type of economy are economic decisions based on how things have been done in the past?

a)

Traditional

b)

Command

c)

Market

d)

Supply and demand

10.

In which type of economy are economic decisions made by a central authority like the government?

a)

Traditional

b)

Command

c)

Market

d)

Supply and demand

11.

In which type of economy are economic decisions based on how buyers and sellers interact in the marketplace?

a)

Traditional

b)

Command

c)

Market

d)

Supply and demand

12.

In which type of economic system are people free to make decisions about whether they will buy or sell goods and services and what goods and services they will buy or sell.

a)

Command

b)

Traditional

c)

Market

d)

Supply and demand

13.

What type of economy does the United States have?

a)

Traditional

b)

Command

c)

Market

d)

None of the above

14.

True or False: Competition amongst businesses is GOOD for consumers.

a)

True

b)

False

15.

True or False: Most command economies grow and are successful.

a)

True

b)

False