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Econ: Money (Ch. 10)

Quiz by Cory West

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25 questions
Show answers
  • Q1
    According to the 2019 Federal Budget, discretionary spending accounts for _____ of the GDP
    Question Image
    1.3%
    17.2 %
    16.3%
    6.3%
    60s
  • Q2
    Net interest is the government’s interest payments on debt held by the public, offset by interest income the government receives
    True
    False
    60s
  • Q3
    The deficit (or shortage) of the 2019 GDP was ____________, adding debt to you and me in the future.
    1 billion dollars
    3 trillion dollars
    1 trillion dollars
    3 billion dollars
    60s
  • Q4
    Gross Domestic Product (GDP) is the dollar value of all final goods and services produced within a country’s borders in one year.
    True
    False
    60s
  • Q5
    Mandatory spending includes things like medicare, medicaid, and...
    Question Image
    Social security
    defense
    net interest
    non-defense
    60s
  • Q6
    According to the image above, how much do banks reserve (hold on hand) of deposits made by individuals or businesses?
    Question Image
    90%
    50%
    10%
    33%
    60s
  • Q7
    According to the bureau of economic analysis and international monetary fund, as noted in the above image, in 2015 Texas' GDP was most similar to which country?
    Question Image
    The United States
    Brazil
    Canada
    Cuba
    60s
  • Q8
    Unemployment includes workers that are actively looking for a job but aren’t working, while the Unemployment Rate is the percent of people in the labor force who want a job but are not working.
    False
    True
    30s
  • Q9
    The Inflation Rate is the percent change in prices from year to year.
    True
    False
    60s
  • Q10
    How does the government stabilize the economy?
    by using GDP
    monetary policy
    fiscal policy and monetary policy
    fiscal policy
    60s
  • Q11
    American currency is both portable and durable
    True
    False
    60s
  • Q12
    The three types of unemployment are...
    frictional, structural, business
    cyclical, structural, business
    frictional, cyclical, and structural
    frictional, cyclical, original
    60s
  • Q13
    Money is the same as wealth or income.
    False
    True
    60s
  • Q14
    Money is ______________ that is generally accepted in payment for goods and services
    anything
    currency
    resources
    a good
    60s
  • Q15
    The United States' Federal Reserve is the nation's central bank
    True
    False
    60s

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