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Recollections of Pine Gulch

Quiz by Gonzales, David

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15 questions
Show answers
  • Q1
    In the beginning of the story, what did the people of Pine Gulch use for money?
    Slim’s original receipts
    Gold and gold dust
    U.S. government currency
    Slim’s new receipts printed on wild green paper with wild pink ink
    30s
  • Q2
    Why was this considered to be money?
    Because it was durable
    Because it was portable
    Because it was generally accepted as payment for goods and services.
    Because it was easily divisible
    30s
  • Q3
    Who did they get to guard the gold dust?
    Doc
    Slim
    Gus
    Bart
    30s
  • Q4
    Which of the following did you learn about accounting in this story?
    Accountants are very confident, easy-going people
    Debits go on the left and credits go on the right
    Liabilities are what you owe and Assets are what you own
    Assets are what you owe and Liabilities are what you own
    30s
  • Q5
    What did Slim do to make it easier for the people to make transactions and not have to wake him up in the middle of the night?
    He printed receipts in denominations of $5, $10, and $20 and got the people to just trade receipts instead of gold and gold dust.
    He put an ATM in Gus' Saloon
    He Closed from 6 pm to 6 am.
    He hired an assistant
    30s
  • Q6
    After Slim rode to San Francisco and bought all the wild green paper and all the wild pink ink, printed new receipts, and traded them with the townspeople for their old receipts, what did they use for money in Pine Gulch?
    Slim’s new receipts printed on wild green paper with wild pink ink.
    Slim’s original receipts
    U.S. government currency
    Gold and gold dust
    30s
  • Q7
    What did Gus ask Slim when he gave him a “free” glass of Sarsaparilla?
    To loan him his horse.
    To clean out the beer cooler.
    To loan him $5,000
    To lock up for him so he could go home
    30s
  • Q8
    Did Slim have the money to loan to Gus?
    No
    Yes
    30s
  • Q9
    How could Slim make Gus a loan if neither of them had enough gold dust?
    Slim asked people if they would all contribute to Gus’ loan fund.
    People seldom came into Slim’s to get gold dust, so Slim printed some receipts and gave them to Gus.
    The gold dust had little gold dust babies.
    Gus had some property to sell to Slim.
    30s
  • Q10
    What happened to Slim's Bank when Bart shot him and the town lost "faith" in him?
    it grew
    it failed
    profits stayed the same
    everyone got their money
    30s
  • Q11
    When Slim started making loans, what happened to the money supply in Pine Gulch?
    It stayed the same
    It decreased
    It increased
    30s
  • Q12
    When Slim started making loans, what happened to the economic activity (i.e. GDP) in Pine Gulch?
    It stayed the same
    It increased
    It decreased
    30s
  • Q13
    Money can be defined as
    Currency
    Anything that is generally accepted as payment for goods and services.
    Checking accounts
    Loans
    30s
  • Q14
    When banks make loans, the money supply ____________.
    stays the same
    increases
    decreases
    30s
  • Q15
    When those loans are repaid, the money supply ___________________.
    decreases
    30s

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