Money Quiz 37 (12 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Save money in a .....

Correct Answer: B) Savings account.

2. Which of the following is NOT a way the Fed acts as the government's bank?

Correct Answer: B) Deals with the banking regulations.

3. Low interest rates

Correct Answer: B) Increase consumer borrowing.

4. An important job of the Federal Reserve is to

Correct Answer: B) Manage and control the money supply.

5. When goods such as gold, silver, furs, jewels, salt, coffee, tea, or meat is used to repay debts or in exchange for other products

Correct Answer: B) Commodity Money.

6. Which of the following is the central bank in the UK?

Correct Answer: C) The Bank of England.

7. This function of money allows you to use it purchase the goods and services you need and want.

Correct Answer: A) Medium of exchange.

8. Spend money on things you .....

Correct Answer: C) Need.

9. In which market can you buy and sell raw, unprocessed goods like gold, oil, and corn?

Correct Answer: B) Commodity Market.

10. Medium of exchange, store of value, and measure of value are all .....

Correct Answer: B) Functions of money.

11. The Board of Governors, the governing body of the Federal Reserve System, is set up to consist of how many members?

Correct Answer: D) 7.

12. Each of the following RBA actions will contract the money supply except .....

Correct Answer: D) Buy bonds.