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WorksheetsBusiness Banking Friday Quiz
Total questions: 22
Worksheet time: 11mins
John is an economist and he is trying to analyze the economic health of a country. What tool would he use to measure inflation?
a ruler
CPI Consumer Price Index
a scale
John has several assets including checks, property, cash, and credit. If he needs to quickly convert one of these into money, which one would be the most liquid asset?
Checks
Property
Cash
Credit
Imagine you are a policy maker. You are tasked with designing a new tax system. A good tax system should be all of these but?
Simple
Efficient
Equal
Overbearing
In a marketplace, you observe two individuals exchanging goods without the use of money. What is happening here?
Bartering
Cooking
Flirting
Machismo
John found some cash on the road. Which of the following is not a use of the money he found?
He can use it as a medium of exchange
He can consider it as a store of value
He can use it as a unit of account
He can use it to start a fire
You found a rare coin in your grandfather's collection. What type of money would this be?
Commodity
Fiat
Representitive
Gold
John is considering using a Debit Card for his transactions. What could be a potential downside for him?
John will have to pay Bank Fees if he uses his bank's ATM
John will end up Paying interest
John can get charged fees if the money isn't in his account
John's Debit Card will only work on weekdays
John has multiple credit cards. He believes that the more credit cards he has, the higher and better his credit score will be. Is this true?
True
False
If you have $1000 in your bank account, and the inflation rate is 2% per year, will the purchasing power of your money decrease over time?
True
False
Imagine a country is in debt. The government thinks about printing more money to pay off the debt. Is this the best way to get out of debt?
True
False
John has some money to invest. Which of the following options is the least risky for him?
Investing in a single company's stock
Investing in a mutual fund
Starting his own business
John has invested in stocks, bonds, and real estate. This strategy of diversification lowers his risk?
True
False
If you are a beginner in a job, will you earn more?
True
False
John is a businessman. He is trying to understand how progressive taxes work. Can you explain it to him?
John, progressive taxes are higher the more you make
John, progressive taxes are lower the more you make
John, progressive taxes are the same for everyone
Consider John, a businessman. If the tax system is regressive, John's taxes...
Will be higher if his business makes more profit
Will be lower if his business makes more profit
Will be the same regardless of his business profit
Imagine you are the head of a central bank. Which would be the best inflation rate to aim for in a stable economy?
-4% (Deflation)
3% (Mild Inflation)
15% (High Inflation)
Imagine you are at a grocery store and you want to use a card that allows you to withdraw money directly from your checking account to pay for your groceries. What type of card would you use?
Credit Card
Debit Card
Gift Card
E-Card
John is planning to buy a house. The bank is ready to lend him money for this purpose. What is this type of loan called?
Mortgage
Default Loan
Equity Loan
Building Loan
John has a savings account in a bank. Which organization guarantees his deposits up to $250,000?
Chinese Government
FDIC (Federal Deposit Insurance Corporation)
The President
The Bank
John has a few items in his pocket: a durable coin, a portable note, a divisible check, and an invincible shield. Which of these does not characterize money?
Durable Coin
Portable Note
Divisible Check
Invincible Shield
John is considering taking a certain financial step today that he believes will yield financial benefits in the future. What is this action likely to be?
Building a Portfolio
Waiting for Maturity
Making an Investment
Buying a Ski Doo
John has invested in stocks, bonds, and real estate. Can we say that these investments collectively form John's portfolio?
True
False
