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WorksheetsFunctions & Characteristics of Money
Total questions: 15
Worksheet time: 4hrs 45mins
Which characteristic of money means easily transferred from person to person, to make the exchange of money for products easier?
Durability
Portability
Divisibility
Scarcity
Money has ______ if it can be broken down into smaller units so it can be used as needed.
Divisibility
Portability
Scarcity
Durability
Money has ______ if it doesn't deteriorate when it is being handled frequently.
Scarcity
Divisibility
Durability
Portability
Function of money in which it is accepted and used as payment for goods and services.
Measure of value
Medium of exchange
Scarcity
Store of Value
One of three functions of money allowing people to preserve value for future use.
Store of value
Divisibility
Portability
Measure of value
Central bank of the U.S. created in 1913 that carries out US monetary policy.
Securities & Exchange Commission
Federal Reserve System
Federal Trade Commission
Bureau of Printing & Engraving
Choose the most accurate definition of "money".
Money is anything generally accepted in payment for goods or services or in the repayment of debts.
Money is only coins issued by a government.
Money is legal currency only backed by gold and is printed by banks to satisfy the financial needs of the people.
Money is printed on a mixture of linen & cotton and issued by Congress.
Which of the following IS NOT a type of money?
Commodity money
Trade money
Representative money
Fiat money
Which type of money exists in the United States?
Commodity money
Trade money
Representative money
Fiat money
Which of the following is an example of "near money"?
Debit cards
Savings accounts
Checking accounts
Credit cards
Which type of money has value in and of itself but can be difficult to transport?
Fiat money
Representative money
Commodity money
https://www.uscurrency.gov/about-us/currency-facts
Which two colors are used in the fibers of US currency?
Yellow and blue
Green and red
Blue and red
Yellow and orange
The difference between representative money and fiat money is that
representative money is worth more than fiat money.
fiat money is counted in coins; representative money is counted in paper dollars.
fiat money is more durable than representative money.
representative money is backed by silver or gold, ; fiat money is not.
What was the $100,000 gold certificate used for?
Transactions between consumers and producers
To solve the basic economic problem of scarcity
Transactions between the state governments and retailers
Transactions between the Federal Reserve banks
