wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Fundamental Principles of Money Review

Total questions: 40

Worksheet time: 20mins

Name
Class
Date
1.

Money can be used to intermediate the exchange of goods and services. This describes which of the following basic functions of money?

a)

Medium of exchange

b)

Store of value

c)

Unit of account

d)

Standard of deferred payments

2.

A torch is featured on the reverse of which of the following types of U.S. coins?

a)

Penny

b)

Nickel

c)

Dime

d)

Quarter

3.

Select all of the following treasuries which are types of government bonds.

a)

Treasury bills

b)

Treasury bonds

c)

Treasury funds

d)

Treasury notes

4.

A $20 bill features which of the following on the reverse?

a)

U.S. Treasury

b)

White House

c)

U.S. Capital

d)

Independence Hall

5.

__________ is a slip of paper which allows the user to make a payment from their bank account to a business or individual.

a)
Personal check
b)

Treasury Bill

c)

Cash

d)

Bank Note

6.

Select all of the following types of currency which have been used in United States history.

a)

British currency

b)

French currency

c)

German currency

d)

Spanish currency

7.

The Continental was first issued in __________.

a)
1775
b)

1720

c)

1690

d)

1812

8.

Where was the headquarters of the First Bank of the United States?

a)

New York

b)

Boston

c)

Chicago

d)

Philadelphia

9.

Which of the following made the gold dollar the official standard unit of currency?

a)

The Gold Standard Act

b)

The National Currency Act

c)

The National Bank Act

d)

The Federal Reserve Act

10.

In what year did the Great Depression start?

a)

1913

b)

1927

c)

1929

d)

1933

11.

According to monetary theory, which of the following is the main driver in changing economic activity?

a)

Exchange rates

b)

Money supply

c)

Taxes

d)

Employment rates

12.

Which of the following sets the monetary policy in the United States?

a)

Senate

b)

The Federal Reserve

c)

Supreme Court

d)

Federal Trade Commission

13.

Fiscal policy is based on __________.

a)

Raising inflation

b)

The Federal Reserve

c)

Treasury bonds

d)

Keynesian economics

14.

Which of the following does fiscal policy strive to balance?

a)

Unemployment and public spending

b)

Tax rates and public spending

c)

Tax rates and unemployment

d)

Money supply and unemployment

15.

Which of the following is the rate at which a unit of currency of one country can be exchanged for a unit of currency of another country?

a)

Exchange rate

b)

Inflation rate

c)

Treasury rate

d)

Tax rate

16.

__________ theory states a change in money supply is the main driver in changes in economic activity.

a)

Fiscal

b)

Monetary

c)

Exchange Rate

d)

Evolution

17.

Money can be saved and used in the future without rapidly losing its purchasing power. This describes which of the following basic functions of money?

a)

Medium of exchange

b)

Store of value

c)

Unit of account

d)

Standard of deferred payments

18.

President Thomas Jefferson is on the obverse of which of the following U.S. coins?

a)

Penny

b)

Nickel

c)

Dime

d)

Quarter

19.

The Federal Reserve Bank is subject to Congressional oversight, despite being an independent bank.

a)

True

b)

False

20.

U.S. Capital is featured on the reverse of which of the following U.S. bills?

a)

$10 bill

b)

$20 bill

c)

$50 bill

d)

$100 bill

21.

Government bonds are issued by which of the following financial institutions?

a)

A Federal Reserve Bank

b)

The Treasury Department

c)

The Federal Trade Commission

d)

The Federal Deposit Insurance Corporation

22.

Which of the following was created in 1791?

a)

First Bank of the United States

b)

Second Bank of the United States

c)

The Federal Reserve Bank

d)

The Gold Standard

23.

Which of the following types of treasuries have the longest maturities of all government bonds?

a)

Treasury bonds

b)

Treasury funds

c)

Treasury bills

d)

Treasury notes

24.

The printing and distribution of large quantities of Continentals eventually led to __________.

a)
Inflation
b)

Deflation

c)

Stagflation

d)

Depreciation

25.

When was the nation’s “free banking era”?

a)

1776 to 1789

b)

1811 to 1831

c)

1836 to 1865

d)

1877 to 1908

26.

Which of the following types of notes were produced in 1863?

a)

Federal Reserve notes

b)

Silver standard notes

c)

National bank notes

d)

Continental

27.

Coins are the type of money made with _____________ and stamped and issued by the authority of the federal government.

a)

plastic

b)

metal

c)

paper

d)

glass

28.

The Gold Standard Act was passed in which of the following years?

a)

1879

b)

1900

c)

1913

d)

1933

29.

__________ are a system of money in general use in a country.

a)
Currencies
b)

Cash

c)

Money

d)

Fiat

30.

Select all of the following which are regional locations of the Federal Reserve Bank.

a)

Los Angeles

b)

Minneapolis

c)

San Francisco

d)

St. Louis

31.

Which function of money provides a common base of price?

a)

Medium of exchange

b)

Store of value

c)

Unit of account

d)

Standard of deferred payments

32.

Which of the following is a type of currency a government has declared to be legal tender but is not backed by a physical commodity?

a)

Treasury money

b)

Commodity money

c)

Representative money

d)

Fiat money

33.

Total amount of monetary assets available in a country’s economy at a specific time

a)

Treasury Bill

b)

Money Demand

c)

Money Supply

d)

Personal Check

34.

Government bonds issued with terms of four, 13, 26 or 52 weeks

a)

Treasury Bill

b)

Money Supply

c)

Personal Check

d)

Money Demand

35.

Desired holding of financial assets in the form of money; cash and bank deposits

a)

Personal Check

b)

Treasury Bill

c)

Money Demand

d)

Money Supply

36.

_________ were developed to be representations of ________assets. They are __________ issued by a Federal ___________ and are payable to the bearer __________.

a)

banknotes, physical, promissory notes, reserve bank, on demand

b)

promissory notes, on demand, banknotes, reserve bank, physical

c)

banknotes, promissory notes, on demand, reserve bank, physical

d)

promissory notes, physical, banknotes, reserve bank, on demand

37.

Payment card which provides the cardholder electronic access to their bank account

a)

Debit card

b)

Money

c)

Cash

d)

Banknotes

38.

Something generally accepted as a medium of exchange, a measure of value, or a means of payments

a)

Debit Card

b)

Money

c)

Cash

d)

Banknotes

39.

Form of legal tender which can be used to exchange goods, debt or services

a)

Debit Card

b)

Money

c)

Cash

d)

Banknotes

40.

Promissory notes issued by a Federal Reserve Bank

a)

Debit Card

b)

Money

c)

Cash

d)

Banknotes