This quiz works best with JavaScript enabled. Home > Economics > Finance > General > Money – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Deposits which are payable after the expiry of a fixed period are called- A) Time deposits. B) . C) NONE. D) None of above. Show Answer Correct Answer: A) Time deposits. 2. Which example best illustrates money as a store of value? A) Saving your money toward a large purchase. B) Buying a product at the store with the lowest price. C) Buying a product at the store with the most choices. D) Buying a product at the store with the nicest people. Show Answer Correct Answer: A) Saving your money toward a large purchase. 3. Keisha wants new books. How will she get the money? A) Steal it. B) Borrow it. C) Save it. D) Burn it. Show Answer Correct Answer: C) Save it. 4. It allows us to place a monetary value on goods and services A) Unit of Account. B) Means of exchange. C) Store of Value. D) Legal Tender. Show Answer Correct Answer: A) Unit of Account. 5. When does the bank have a debt to you?A, when you withdraw banknotes from an ATM.B, when you deposit money into your own account.C, when you pay your electricity bill with a cash transfer. A) A. B) B. C) C. D) None of above. Show Answer Correct Answer: B) B. 6. Mrs. Brady took her family out to eat. She handed the waitress a card to purchase the meal. This charge appeared on a bill that she paid three weeks later. A) Credit. B) Debit. C) Both. D) None of above. Show Answer Correct Answer: A) Credit. 7. Something we use from nature A) Capital resource. B) Human resource. C) Natural resource. D) Entrepreneur. Show Answer Correct Answer: C) Natural resource. 8. More characteristics of money A) There's only 5 types of money. B) Money must be available but only in limited supply. C) Money is the most important thing in the world. D) None of above. Show Answer Correct Answer: B) Money must be available but only in limited supply. 9. A good tax should be all of these but? A) Simple. B) Overbearing. C) Equal. D) Efficient. Show Answer Correct Answer: B) Overbearing. 10. When you drive away from the gas pump, you have just paid a(n) A) Corporate income tax. B) Tariff. C) Import fee. D) Sales tax. Show Answer Correct Answer: D) Sales tax. 11. This is the price paid for borrowing money: A) Interest. B) Maturtity. C) Principal. D) Cost. Show Answer Correct Answer: A) Interest. 12. Money must be durable, which means A) Easy to carry. B) Long lasting. C) Limited in supply. D) Easily identified. Show Answer Correct Answer: B) Long lasting. 13. The ease with which an asset can be converted into payment for goods & services. A) Banking. B) Legal Tender. C) Liquidity. D) Medium of Exchange. Show Answer Correct Answer: C) Liquidity. 14. Dollars and cents A) Currency. B) Certificate of Deposit. C) Money. D) Money Market. Show Answer Correct Answer: A) Currency. 15. Which of following is not included in M1 A) Inter bank deposits. B) Currency and coins with public. C) Other deposits with RBI. D) Demand deposits with banks. Show Answer Correct Answer: A) Inter bank deposits. 16. Includes less liquid assets: A) Debit Card. B) M2. C) Currency. D) M1. Show Answer Correct Answer: B) M2. 17. If a country's central bank sells bonds in the open market, the interest rate will most likely change in which of the following ways? A) Increase. B) Not enough information is present to determine effect. C) Stay the same. D) Decrease. Show Answer Correct Answer: A) Increase. 18. Which of these is NOT a function of the Federal Reserve? A) Conduct monetary policy. B) Supervise and regulate banks. C) Provide financial services to banks. D) Manage the federal deficit. Show Answer Correct Answer: D) Manage the federal deficit. 19. When people went to the bank to withdraw their money and the banks had no money was known as the A) Bank Crisis. B) Black Tuesday. C) New Deal. D) Stock Market Crash. Show Answer Correct Answer: A) Bank Crisis. 20. Which of the following is used to describe money that is in your pocket, your checking account, and your piggy bank? A) M2. B) Specie money. C) Fiat money. D) M1. Show Answer Correct Answer: D) M1. 21. What is the Federal Reserve? A) Central bank of the U.S. B) Agency responsible for international trade. C) Agency responsible for collecting taxes. D) Central credit union. Show Answer Correct Answer: A) Central bank of the U.S. 22. This type of money does not have any intrinsic value and does not represent an asset in a vault. A) Commodity money. B) Representative money. C) Fiat money. D) None of above. Show Answer Correct Answer: C) Fiat money. 23. The ..... spread commerce throughout southern and western Europe. A) Barbarians. B) Chinese. C) Romans. D) Maasi. Show Answer Correct Answer: C) Romans. 24. A type of financial institution, they are indenpenently owned, & operated to make a profit A) Centre Commercial. B) Banks. C) Savings and Loans. D) Credit Unions. Show Answer Correct Answer: B) Banks. 25. In bartering economies, people trade what they ..... for what they ..... A) Want; need. B) Buy; sell. C) Have; need. D) Sell; buy. Show Answer Correct Answer: C) Have; need. 26. Why is money green? A) It's Christopher Columbus' favorite color. B) It comes from the leaves on the trees. C) It's difficult to counterfeit. D) It's the cheapest dye to use. Show Answer Correct Answer: C) It's difficult to counterfeit. 27. The price paid for the use of borrowed money. A) Loan. B) Barter. C) Mortgage. D) Interest. Show Answer Correct Answer: D) Interest. 28. You can easily carry money in a pocket or a purse. This reflects what characteristic of money? A) Legal tender. B) Divisibility. C) Durability. D) Portability. Show Answer Correct Answer: D) Portability. 29. What is the most broad definition of money A) M1. B) M3. C) M2. D) L. Show Answer Correct Answer: B) M3. 30. The following is information about the central bank and its description:A bank with temporary difficulties can seek assistance from the central bank if needed A) The sole issuer of notes and coins. B) The government's bank. C) The bankers' bank. D) Lender of the last resort. Show Answer Correct Answer: D) Lender of the last resort. ← PreviousNext →Related QuizzesFinance QuizzesEconomics QuizzesMoney Quiz 1Money Quiz 2Money Quiz 3Money Quiz 4Money Quiz 5Money Quiz 6Money Quiz 7Money Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books