WorksheetsYHS Economics 6 Wk. Exam Review, 2nd 9 Wks.
Total questions: 10
Worksheet time: 5mins
The US government is suspicious of cryptocurrency because:
They cannot regulate it
Crypto is used for illegal activities
Its value is not stable
All of the above
True or false: When you use a credit card, you must pay that money back to the credit card company.
True
False
Which is a service offered by banks?
Providing savings accounts
Offering loans
Issuing debit cards
All of the above
What is a benefit of using a debit card?
You have to pay back a credit card company
They never expire
They can't be used online
They take up less space than cash and coins
One of the duties of the Federal Reserve is to:
Tell hospitals to see more patients
Sell pet insurance
Tell banks how much money they need to keep in reserve (the reserve requirement)
Steal money from other countries
How does the Federal Reserve impact local economies?
They stop call center scammers
They donate to homeless shelters
They set the loan interest rates that banks must follow
They elect politicians
Which is an advantage of online banking?
You can pay bills online
You can view your account balance
You don't have to carry cash
All of the above
What is a disadvantage of bartering/trading?
You have to carry around heavy items
No one may want your items
The items you're trading may expire, run away, die, etc.
All of the above
Fiat money is:
Money that has value because the government says so
Money that has value in addition to being used as money
Money backed by gold or silver
None of the above
Items used as money that have more purposes aside from being used as money are called:
Fiat money
Credit cards
Debit cards
Commodity money
