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Money Quiz 28 (20 MCQs)

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1. Money is expected to have value and be used by all to make purchases.
2. Last year, you sold your game system to your friend Jimmy for $ 125 in cash. You've been saving that money in a shoebox under your bed.You are saving the money to buy a new computernext year.A) Measure of ValueB) Store of ValueC) Medium of Exchange
3. If the reserve ratio is 25% and Ray deposits $ 100 in the bank the result will be
4. The type of money that has value because it can be exchanged for something of value
5. Bartering is difficult if the items being traded are physically difficult to transport
6. Value that is based on an opinion of a person, society, etc. is what type of value?
7. Which bank is called lender of last resort?
8. When I purchase a corporate ....., I am lending the corporation funds for a specific time. When I purchase a corporation's ....., I become an owner in the corporation.
9. Which of the following has not been used as a medium of exchange?A) B) animalsC) metalsD) salt
10. ..... is the relative ease and speed with which an asset can be converted into a medium of exchange.
11. The amount received in addition to the invested amount
12. In economics, resources are:
13. Items used to facilitate barter, keep value, and comparison shop
14. Emilio borrows $ 1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years? (I=prt, then add I to p to get the answer)
15. In the Money Market graph, the
16. Which one is NOT a form of money?
17. A type of money that has value because it can be exchanged for something else of value (ex. gold).
18. It allows us to trade
19. Economists point out that money serves three main purposes. They are all of the following EXCEPT:
20. The buying an selling of government securities in financial markets is an example of
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