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Unit 5 Review

Quiz by Maggie Maine

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13 questions
Show answers
  • Q1
    Trading goods and services without money
    Barter system
    Deposit system
    Gold system
    Fiat system
    30s
  • Q2
    Money makes the economy more efficient and run smoothly
    False
    True
    30s
  • Q3
    The buying and selling process in exchange for dollars.
    Medium of Exchange
    Store of Value
    Unit of Account
    30s
  • Q4
    Using money to express the value of something.
    Store of Value
    Medium of Exchange
    Unit of Account
    30s
  • Q5
    When you save the money you earn today for use in the future.
    Medium of Exchange
    Store of Value
    Unit of Account
    30s
  • Q6
    There are two measurements of money, what are they?
    Demand deposits & Savings deposits
    Currency & E-money
    M1 & M2
    Fiat and Commodity Money
    30s
  • Q7
    Paper money lasts roughly 1 year in circulation. This shows that money is _____.
    uniform
    durable
    portable
    in limited supply
    30s
  • Q8
    Paper money and coins are small and light. This means money is ________.
    divisible
    accepted.
    uniform
    portable
    30s
  • Q9
    We have several denominations available in U.S. money. This means our money is _______.
    accepted
    divisible
    in limited supply
    uniform
    30s
  • Q10
    My dollar bill is worth the same as your dollar bill. This means our money is _______.
    in limited supply
    divisible
    durable
    uniform
    30s
  • Q11
    I will take your money if you buy a notebook from me because I know it can be reused. This is called _________.
    uniformity
    acceptability
    limited supply
    durability
    30s
  • Q12
    The newest phase of money in the evolution process is ______.
    the barter system
    fiat money
    e-money
    commodity money
    30s
  • Q13
    Dollar bills with George Washington's face are considered __________.
    e-money
    commodity money
    fiat money
    representative money
    30s

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