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Money Quiz 11 (30 MCQs)

Quiz Instructions

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1. There are ..... Regional Federal Reserve Banks, and one Federal Reserve Board of Governors.
2. All of the following are characteristics of money EXCEPT:
3. RR=10%, deposits are 50, 000. What are the required reserves?
4. Deposits made by bank customers are also known as?
5. Demand deposit account that can keep your money safe, and easily withdraw at any time is called?
6. The % of all deposits that banks must keep on hand inside the bank vault and are not able to be loaned out is called
7. Items that are used as money must be capable of being used as smaller and smaller denominations so as to enable a range of different values to be represented by the item being used.
8. The type of money that HAS VALUE BECAUSE THE GOV'T SAYS IT DOES
9. Coins and paper that are used as money; 'legal tender'.
10. The ratio of total deposits that a commercial bank has to keep with themselves is called:
11. Money must be easily divided into small parts so that people can purchase goods and services at any price.
12. When I see one used car advertised for $ 500 and another for $ 1000, money is functioning in what role?
13. Where do we save money at the bank?
14. Coins have been used for ..... of years.
15. Cattle, cowrie shells, sheep, camels, and grain have been accepted as method to acquire goods and services.
16. The money or banking multiplier is found by?
17. Patrick places his pocket change into his savings bank on his desk each evening. By his actions, Patrick indicates that he believes that money is a
18. What is the most restrictive definition of money
19. Actual Reserves minus Required Reserves equals
20. The act of buyers and sellers freely & willingly engaging in market transactions
21. Bartering requires that the seller and the buyer want what the other has for exchange, otherwise the transaction cannot take place
22. Who is author of the ancient book on economics, Arthashastra?
23. This characteristic of money refers to ability to retain its value ..... it is not too prone to inflation or deflation.
24. A prolonged period of rising stock prices and a general feeling of investor optimism:
25. Government issued and endorsed currency thats only use and purpose is to be used for the repayment of debt or for the purchasing of goods and services.
26. The fact that all money must be identical so that people recognize it means that it meets which characteristic?
27. Objects that have value in themselves and are also used as money.
28. Which of the following is a type of banking service that allows your principal to grow through the adding in of interest?
29. Which of the following is one of the three functions of money?
30. The idea that resources are limited; we don't have an unlimited supply of what we want
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