This quiz works best with JavaScript enabled. Home > Finance > General > Money – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Quiz 30 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is money in the form of gold or silver coins? A) Fiat money. B) Commodity money. C) Specie money. D) Bitcoin. Show Answer Correct Answer: C) Specie money. 2. Kim K. deposits $ 200 in her checking account. Later that day Kanye gets a loan for $ 3, 000 from the same bank. What happens to the money supply A) Increases by $ 200. B) Increases by $ 2800. C) Decreases by $ 3000. D) Increases by $ 3000. Show Answer Correct Answer: D) Increases by $ 3000. 3. Which of the following is not something that you fill out on a check? A) Your signature. B) The date. C) Your birthdate. D) Who the check is made payable to. Show Answer Correct Answer: C) Your birthdate. 4. Anything that's accepted in exchange for goods & services. A) Currency. B) Money. C) Liquidity. D) Deferred Payment. Show Answer Correct Answer: B) Money. 5. Money that has value because the Government declared that it is money. A) Fiat Money. B) Commodity Money. C) Currency. D) Coins. Show Answer Correct Answer: A) Fiat Money. 6. You ..... your account when you write checks for more money than you ahve in the bank. A) Debit card. B) Service fee. C) Overdraw. D) Deposit. Show Answer Correct Answer: C) Overdraw. 7. Financial institutions that accept deposits and make loans are called A) Exchanges. B) Banks. C) Over-the-counter markets. D) Finance companies. Show Answer Correct Answer: B) Banks. 8. Credit control means- A) Contraction of credit only. B) Extension of credit only. C) Extension and contraction of money supply. D) None of these. Show Answer Correct Answer: C) Extension and contraction of money supply. 9. The scarcity of goods and services is reflected in their ..... A) Prices. B) Usefulness. C) Origin. D) Marketing. Show Answer Correct Answer: A) Prices. 10. What type of card allows you to withdraw money you have in your bank account? A) Credit Card. B) Debit Card. C) Bank Card. D) ID Card. Show Answer Correct Answer: B) Debit Card. 11. Digital currency such as Bitcoin is considered a speculative ..... A) Asset. B) Money. C) Coin. D) Service. Show Answer Correct Answer: A) Asset. 12. Why would a person invest in junk bonds? A) He does not know anything about investment. B) Junk bonds can pay very high interest rates. C) Most junk bonds have low interest rates. D) Junk bonds have high bond ratings. Show Answer Correct Answer: B) Junk bonds can pay very high interest rates. 13. Resources (a.k.a. the factors of production are) A) Land and Labor. B) Land and Capital. C) Entrepreneurship. D) Land, Labor, Capital and Entrepreneurship. Show Answer Correct Answer: D) Land, Labor, Capital and Entrepreneurship. 14. Definition of m1 A) Forms of money that serve a store of value. B) 1 successful business. C) The top guy in charge of the corporation. D) A type of money. Show Answer Correct Answer: A) Forms of money that serve a store of value. 15. Which of the following has not been used as a medium of exchange? A) Flowers. B) Animals. C) Metals. D) Salt. Show Answer Correct Answer: A) Flowers. 16. The Federal Reserve was established in A) 1929. B) 1865. C) 1913. D) 1907. Show Answer Correct Answer: C) 1913. 17. The item must physically last and will not wear out too quickly to be useful as money A) Durable. B) Acceptable. C) Divisible. D) Scarce. Show Answer Correct Answer: A) Durable. 18. You can save money in a ..... at a bank. A) Sock drawer. B) Trash can. C) Under a mattress. D) Savings account. Show Answer Correct Answer: D) Savings account. 19. Money can withstand physical wear and tear A) Uniformity. B) Durability. C) Divisibility. D) Portability. Show Answer Correct Answer: B) Durability. 20. If Reserve Deposit Ratio is 12.5%, the value of Money Multiplier will be: A) 2. B) 5. C) 8. D) 10. Show Answer Correct Answer: C) 8. ← 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