Explore the fundamentals of economics through the 'Monetary System Quiz'. This quiz assesses understanding of barter systems, the functions of money, the nature of U. S. Currency, and the components of M1. It's ideal for learners interested in economic principles and financial literacy.
Deposits are assets, reserves are liabilities.
Reserves are assets, deposits are liabilities.
Both deposits and reserves are assets.
Both deposits and reserves are liabilities.
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Required reserves in the banking system increase.
The money multiplier will increase.
The discount rate will increase
The money supply falls.
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People may not legally make trades with anything else.
People are more likely to accept the dollar as a medium of exchange.
The government must hold enough gold to redeem all currency.
All of the above are correct.
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1,500
3,000
13,150
13,333
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Is more efficient than money
Makes trading easier than money.
Allows greater specialization than money
None of the above is correct.
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Boston
New York
Chicago
All of the above are correct
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You list prices for candy sold on your Web site, sweet-treats.com, in dollars.
You pay for tickets to a WNBA game with dollars.
You keep $10 in your backpack for emergencies.
None of the above is correct.
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Lower the discount rate, make open-market purchases
Lower the discount rate, make open-market sales
Raise the discount rate, make open-market purchases
Raise the discount rate, make open-market sales
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Commodity money with no intrinsic value.
Fiat money with no intrinsic value.
Commodity money with intrinsic value.
Fiat money with intrinsic value.
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Increases both the money multiplier and the money supply
Increases the money multiplier, but decreases the money supply.
Decreases both the money multiplier and the money supply
Decreases the money multiplier, but increases the money supply.
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Decrease by $10 million and the money supply eventually decreases by $100 million.
Decrease by $10 million and the money supply eventually increases by $100 million.
Increase by $10 million and the money supply eventually decreases by $100 million
Increase by $10 million and the money supply eventually increases by $100 million.
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Must increase its required reserves by $500.
Will initially see its total reserves increase by $25.
Will be able to make a new loan of $475.
All of the above are correct.
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Discount rate.
Federal funds rate.
Prime rate.
FOMC rate.
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Sell government bonds.
Decrease the discount rate
Increase the reserve requirement.
None of the above is correct.
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Savings deposits
Money market deposit accounts
Currency
All of the above are correct.
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Nearly created a financial panic by not acting as a lender of last resort.
Nearly created a financial panic by raising the discount rate.
Prevented a financial panic by providing liquidity to the financial system
Prevented a financial panic by raising reserve requirements.
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A method of deferring payment.
Used as a medium of exchange.
Part of the M2 money supply.
Equivalent to debit cards
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The short run, but not the long run
The short and long run.
The long run, but not the short run.
Neither the short nor long run.
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Less, banks will lend more, and the money supply will decrease
Less, banks will lend less, and the money supply will decrease
More, banks will lend more, and the money supply will increase.
More, banks will lend less, and the money supply will decrease.
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Increasing reserve requirements.
Selling government bonds to the bank.
Lending reserves to the bank.
Doing any of the above.
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Is holding excess reserves of $1,000.
Is in a position to make a new loan of $2000.
Has required reserves of $2,000.
Has less reserves than required
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100 percent.
80 percent.
20 percent
12.5 percent.
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5 of the 12 presidents of the Federal Reserve Regional banks, and the 7 members of the Board of Governors.
The 12 presidents of the Federal Reserve Regional banks, and the Chair of the Board of Governors
The 12 presidents of the Federal Reserve Regional banks, and the 7 members of the Board of Governors.
7 of the 12 presidents of the Federal Reserve Regional banks, and the 5 members of the Board of Governors.
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Currency may be a preferable store of wealth for criminals.
U.S. citizens are holding a lot of foreign currency.
People use credit and debit cards more frequently.
All of the above help explain the abundance of currency
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