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Money Quiz 16 (20 MCQs)

Quiz Instructions

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1. In ancient times, Roman soldiers were paid in .....
2. There are ..... Regional Federal Reserve Banks, and one Federal Reserve Board of Governors.
3. All of the following are characteristics of money EXCEPT:
4. RR=10%, deposits are 50, 000. What are the required reserves?
5. Deposits made by bank customers are also known as?
6. Demand deposit account that can keep your money safe, and easily withdraw at any time is called?
7. The % of all deposits that banks must keep on hand inside the bank vault and are not able to be loaned out is called
8. 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.
9. The type of money that HAS VALUE BECAUSE THE GOV'T SAYS IT DOES
10. Coins and paper that are used as money; 'legal tender'.
11. The ratio of total deposits that a commercial bank has to keep with themselves is called:
12. Money must be easily divided into small parts so that people can purchase goods and services at any price.
13. When I see one used car advertised for $ 500 and another for $ 1000, money is functioning in what role?
14. Where do we save money at the bank?
15. Coins have been used for ..... of years.
16. Cattle, cowrie shells, sheep, camels, and grain have been accepted as method to acquire goods and services.
17. The money or banking multiplier is found by?
18. 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
19. What is the most restrictive definition of money
20. Actual Reserves minus Required Reserves equals
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