WorksheetsFundamental Principles of Money Review
Total questions: 40
Worksheet time: 20mins
Money can be used to intermediate the exchange of goods and services. This describes which of the following basic functions of money?
Medium of exchange
Store of value
Unit of account
Standard of deferred payments
A torch is featured on the reverse of which of the following types of U.S. coins?
Penny
Nickel
Dime
Quarter
Select all of the following treasuries which are types of government bonds.
Treasury bills
Treasury bonds
Treasury funds
Treasury notes
A $20 bill features which of the following on the reverse?
U.S. Treasury
White House
U.S. Capital
Independence Hall
__________ is a slip of paper which allows the user to make a payment from their bank account to a business or individual.
Treasury Bill
Cash
Bank Note
Select all of the following types of currency which have been used in United States history.
British currency
French currency
German currency
Spanish currency
The Continental was first issued in __________.
1720
1690
1812
Where was the headquarters of the First Bank of the United States?
New York
Boston
Chicago
Philadelphia
Which of the following made the gold dollar the official standard unit of currency?
The Gold Standard Act
The National Currency Act
The National Bank Act
The Federal Reserve Act
In what year did the Great Depression start?
1913
1927
1929
1933
According to monetary theory, which of the following is the main driver in changing economic activity?
Exchange rates
Money supply
Taxes
Employment rates
Which of the following sets the monetary policy in the United States?
Senate
The Federal Reserve
Supreme Court
Federal Trade Commission
Fiscal policy is based on __________.
Raising inflation
The Federal Reserve
Treasury bonds
Keynesian economics
Which of the following does fiscal policy strive to balance?
Unemployment and public spending
Tax rates and public spending
Tax rates and unemployment
Money supply and unemployment
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?
Exchange rate
Inflation rate
Treasury rate
Tax rate
__________ theory states a change in money supply is the main driver in changes in economic activity.
Fiscal
Monetary
Exchange Rate
Evolution
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?
Medium of exchange
Store of value
Unit of account
Standard of deferred payments
President Thomas Jefferson is on the obverse of which of the following U.S. coins?
Penny
Nickel
Dime
Quarter
The Federal Reserve Bank is subject to Congressional oversight, despite being an independent bank.
True
False
U.S. Capital is featured on the reverse of which of the following U.S. bills?
$10 bill
$20 bill
$50 bill
$100 bill
Government bonds are issued by which of the following financial institutions?
A Federal Reserve Bank
The Treasury Department
The Federal Trade Commission
The Federal Deposit Insurance Corporation
Which of the following was created in 1791?
First Bank of the United States
Second Bank of the United States
The Federal Reserve Bank
The Gold Standard
Which of the following types of treasuries have the longest maturities of all government bonds?
Treasury bonds
Treasury funds
Treasury bills
Treasury notes
The printing and distribution of large quantities of Continentals eventually led to __________.
Deflation
Stagflation
Depreciation
When was the nation’s “free banking era”?
1776 to 1789
1811 to 1831
1836 to 1865
1877 to 1908
Which of the following types of notes were produced in 1863?
Federal Reserve notes
Silver standard notes
National bank notes
Continental
Coins are the type of money made with _____________ and stamped and issued by the authority of the federal government.
plastic
metal
paper
glass
The Gold Standard Act was passed in which of the following years?
1879
1900
1913
1933
__________ are a system of money in general use in a country.
Cash
Money
Fiat
Select all of the following which are regional locations of the Federal Reserve Bank.
Los Angeles
Minneapolis
San Francisco
St. Louis
Which function of money provides a common base of price?
Medium of exchange
Store of value
Unit of account
Standard of deferred payments
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?
Treasury money
Commodity money
Representative money
Fiat money
Total amount of monetary assets available in a country’s economy at a specific time
Treasury Bill
Money Demand
Money Supply
Personal Check
Government bonds issued with terms of four, 13, 26 or 52 weeks
Treasury Bill
Money Supply
Personal Check
Money Demand
Desired holding of financial assets in the form of money; cash and bank deposits
Personal Check
Treasury Bill
Money Demand
Money Supply
_________ were developed to be representations of ________assets. They are __________ issued by a Federal ___________ and are payable to the bearer __________.
banknotes, physical, promissory notes, reserve bank, on demand
promissory notes, on demand, banknotes, reserve bank, physical
banknotes, promissory notes, on demand, reserve bank, physical
promissory notes, physical, banknotes, reserve bank, on demand
Payment card which provides the cardholder electronic access to their bank account
Debit card
Money
Cash
Banknotes
Something generally accepted as a medium of exchange, a measure of value, or a means of payments
Debit Card
Money
Cash
Banknotes
Form of legal tender which can be used to exchange goods, debt or services
Debit Card
Money
Cash
Banknotes
Promissory notes issued by a Federal Reserve Bank
Debit Card
Money
Cash
Banknotes
