This quiz works best with JavaScript enabled. Home > Finance > General > Money – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Quiz 14 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is used to describe money that is in your pocket, your checking account, and your piggy bank? A) Specie money. B) Fiat money. C) M1. D) M2. Show Answer Correct Answer: C) M1. 2. What is the Federal Reserve? A) Agency responsible for international trade. B) Central credit union. C) Agency responsible for collecting taxes. D) Central bank of the U.S. Show Answer Correct Answer: D) Central bank of the U.S. 3. 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. 4. The ..... spread commerce throughout southern and western Europe. A) Chinese. B) Romans. C) Maasi. D) Barbarians. Show Answer Correct Answer: B) Romans. 5. 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. 6. In bartering economies, people trade what they ..... for what they ..... A) Sell; buy. B) Buy; sell. C) Want; need. D) Have; need. Show Answer Correct Answer: D) Have; need. 7. Why is money green? A) It's difficult to counterfeit. B) It's the cheapest dye to use. C) It's Christopher Columbus' favorite color. D) It comes from the leaves on the trees. Show Answer Correct Answer: A) It's difficult to counterfeit. 8. The price paid for the use of borrowed money. A) Barter. B) Loan. C) Mortgage. D) Interest. Show Answer Correct Answer: D) Interest. 9. You can easily carry money in a pocket or a purse. This reflects what characteristic of money? A) Durability. B) Legal tender. C) Divisibility. D) Portability. Show Answer Correct Answer: D) Portability. 10. What is the most broad definition of money A) M2. B) L. C) M3. D) M1. Show Answer Correct Answer: C) M3. 11. 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. 12. The most used tool of monetary policy is the buying and selling of government bonds (securities). This is called A) Closed Market Operations. B) Open Market Operations. C) Discount Rate. D) Federal Funds Bonds. Show Answer Correct Answer: B) Open Market Operations. 13. Banks and credit unions generate money in the economy by: A) Selling governments bonds. B) Making loans. C) Printing money. D) All of these are correct. Show Answer Correct Answer: B) Making loans. 14. Cow milk is not an effective form of money because it is not: A) Divisible. B) Portable. C) Consistent. D) Durable. Show Answer Correct Answer: D) Durable. 15. Which one is money? A) Cash. B) Check. C) Debit card. D) All the above. Show Answer Correct Answer: D) All the above. 16. A listing of financial assets owned by an individual A) Portfolio. B) Diversification. C) Stock Split. D) Principal. Show Answer Correct Answer: A) Portfolio. 17. The fact that money must withstand the wear and tear that comes from being used over and over again is a measure of its A) Portability. B) Currency. C) Durability. D) Age. Show Answer Correct Answer: C) Durability. 18. A prearranged loan to a person available when they need money, used at stores, firms, etc. and does not have to be use all at once, or at all. A) Debit Card. B) Liquidity. C) Credit Card. D) Mortgage. Show Answer Correct Answer: C) Credit Card. 19. The financial intermediaries that the average person interacts with most frequently are A) Exchanges. B) Over-the-counter markets. C) Finance companies. D) Banks. Show Answer Correct Answer: D) Banks. 20. The first true bank of America was A) The Central Bank. B) The Bank of America. C) The FDIC. D) The Federal Reserve System. Show Answer Correct Answer: D) The Federal Reserve System. ← PreviousNext →Related QuizzesFinance QuizzesMoney Quiz 1Money Quiz 2Money Quiz 3Money Quiz 4Money Quiz 5Money Quiz 6Money Quiz 7Money Quiz 8Money Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books