Lesson 11 Making Money Quiz

20 Questions | Total Attempts: 136

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Making Inference Quizzes & Trivia

Answer the questions below. You may use your reading. You will have 2 chances to take the quiz. Your best score will be your final grade for the quiz. Don't try to guess. Read and reread!


Questions and Answers
  • 1. 
    A _____________________  is a promise that a certain amount of money has the same value as the valuable substance that is backing it.
    • A. 

      Currency

    • B. 

      Guarantee

    • C. 

      Income

    • D. 

      Surplus

  • 2. 
    A/an  ___________________ is the way a country manages its money and resources (such as workers and land) to produce, buy, and sell goods and services.
    • A. 

      Economy

    • B. 

      Pension

    • C. 

      Interest rate

    • D. 

      Surplus

  • 3. 
    The ________________________ was the political party of the common person like the farmer and factory worker and worked to make lives for the average worker by first promoting the bimetal standard, then proposing the crop standard, and finally the democratic money system.
    • A. 

      Populist Party

    • B. 

      Democratic Party

    • C. 

      Republican Party

    • D. 

      The Libertarian Party

  • 4. 
    ___________________  is rising prices - when the value of your money goes down and it takes more money to buy things.
    • A. 

      Inflation

    • B. 

      Deflation

    • C. 

      Circulation

    • D. 

      Depression

  • 5. 
    Which word is another word for money?
    • A. 

      Currency

    • B. 

      Pension

    • C. 

      Deflation

    • D. 

      Standard

  • 6. 
    Which organization is a board (independent of political parties) that controls the supply of money that was proposed by the Populist Party and made law in the 20th century?  
    • A. 

      Federal Reserve System

    • B. 

      Silver Standard

    • C. 

      Crop - Based Monetary System

    • D. 

      A Bimetal Standard

  • 7. 
    _______________________ is falling prices  - when there isn't much money to pay for goods, so the demand for goods goes down.  Because of this, people stop buying things.  Merchants can't sell their goods.  They have to lower their prices until they are low enough for people to afford them.  
    • A. 

      Deflation

    • B. 

      Inflation

    • C. 

      Surplus

    • D. 

      Prosperity

  • 8. 
    What is meant by money circulation?
    • A. 

      The money used in everyday life by the people of a country

    • B. 

      The money that has just been printed by the U.S. Treasury

    • C. 

      The cycle of inflation, deflation, depression, and prosperity

    • D. 

      Money that is printed and not backed by anything of value

  • 9. 
    A long period during which the economy is poor and goes through deflation; however, instead of the economy recovering when merchants lower their prices like in deflation, people are so broke that they don't  buy things no matter how low prices go is called a/an ______________________.  
    • A. 

      Surplus

    • B. 

      Depression

    • C. 

      Pension

    • D. 

      Interest rate

  • 10. 
    A/an  ___________________ is a tax on goods imported in to the country from another country.  
    • A. 

      Tariff

    • B. 

      Pension

    • C. 

      Economy

    • D. 

      Surplus

  • 11. 
    ______________________ is the fee for using someone else's money.
    • A. 

      Interest

    • B. 

      Pension

    • C. 

      Currency

    • D. 

      Bimetal

  • 12. 
    _________________________________ that gave away most of the surplus in the form of pensions to Civil War veterans and raised tariffs so high that the government's income from those taxes almost disappeared and caused people to stop buying expensive foreign goods and put our nation into debt.  
    • A. 

      The Billion Dollar Congress

    • B. 

      J.P. Morgan

    • C. 

      Andrew Carnegie

    • D. 

      The Populist

  • 13. 
    ______________________ is the department of the U.S. government responsible for printing money, collecting taxes, and managing U.S. bank accounts.
    • A. 

      The Department of the Treasury

    • B. 

      The Department of Education

    • C. 

      The House of Morgan

    • D. 

      The Department of Defense

  • 14. 
    A/an ______________________ is anything that is accepted by the people of a country as a standard of value and a measure of wealth.  
    • A. 

      Monetary system

    • B. 

      Economy

    • C. 

      Pension

    • D. 

      Federal Reserve System

  • 15. 
    _____________________ means a limited amount.
    • A. 

      Surplus

    • B. 

      Finite

    • C. 

      Prosperity

    • D. 

      Greenback

  • 16. 
    ___________________________ was money that was not guaranteed by a valuable substance, issued by Abraham Lincoln to help pay for the Civil War.
    • A. 

      Greenbacks

    • B. 

      Tariffs

    • C. 

      Taxes

    • D. 

      Spree

  • 17. 
    A/an _________________________ is when a person sets aside a portion of their income each month and the portion of money is matched by their employer (the person they work for) and is saved for retirement (when the employee stops working when they become elderly)  .  
    • A. 

      Pension

    • B. 

      Interest rate

    • C. 

      Tariff

    • D. 

      Guarantee

  • 18. 
    A/an ______________________ a fee charged by the government on goods or on a person's income to pay for things the country needs like roads, bridges, the military, fire departments, police departments, and teachers.  
    • A. 

      Tax

    • B. 

      Tariff

    • C. 

      Pension

    • D. 

      Interest rate

  • 19. 
    When currency is backed by silver and gold is it called a ______________________.  
    • A. 

      Bimetal standard

    • B. 

      Production standard

    • C. 

      Democratic standard

    • D. 

      Federal standard

  • 20. 
    A/an ________________________ when the government has more money coming in than it is spending.
    • A. 

      Surplus

    • B. 

      Deficit

    • C. 

      Tariff

    • D. 

      Income