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WorksheetsBanking & Financial Institutions - Midterm Quiz 1
Total questions: 16
Worksheet time: 11mins
It is generally accepted as an international medium of exchange irrespective of the ideologies of the countries involved.
(a)
A monetary system in which a government recognizes coins composed of both gold or silver as legal tender.
(a)
It means "order" or "sanction"
(a)
A government-issued currency that is not backed by a commodity such as gold.
(a)
The increases or decreases in money supply is the responsibility of the Central Bank.
True
False
The monetary standard of a country is synonymous with its standard money.
True
False
The monetary system of a country is usually described in terms of its standard money.
True
False
When the standard monetary unit is gold, the country is said to a silver standard.
True
False
Under a bimetallic standard, gold and silver have different nominal value or face value.
True
False
The real value or the value of gold or silver as a metal or commodity changes depending on their supply.
True
False
Under this monetary standard, there was a 100 percent-support of the money in circulation with gold or silver.
(a)
Under this money standard, the money supply can be contracted or expanded through various monetary tools to suit the changing economic conditions.
(a)
The earliest form of precious metal made of pure gold that first recognized coinage in the Philippines circulated between the 9th and 12th centuries.
(a)
A well-known and highly respected security printer in England, where Philippine banknotes had been printed since 1949.
(a)
It has the equipment to reproduce the working dies used for stamping the coins on imported master dies.
(a)
What are the kinds of the monetary standard? Explain one.
Write your answers in 5-10 sentences.
