Money & Banking Test Bank
Money & Banking Quiz
Test your knowledge about money, banking, and financial concepts! This quiz covers various aspects of the banking system, types of money, and financial transactions.
Whether you're a student, teacher, or simply interested in finance, this quiz provides valuable insights.
- 11 engaging questions
- Multiple choice and text response formats
- Know more about cryptocurrency, interest rates, and banking transactions.
A debit card is an example of ________
Currency
Savings account
E-money
Cryptocurrency
Which of the following is included in both M1 and M2?
Savings Deposits
Time Deposit
Currency in Circulation
Repurchase Agreements
Which of the following are transaction deposits?
Checkable Deposits
Savings Deposits
Time Deposits
None of the above
The price paid for the rental of borrowed funds (usually expressed as a percentage of the rental of $100 per year) is commonly referred to as the ________
Exchange Rate
Inflation Rate
Interest Rate
None of the above
When money prices are used to facilitate comparisons of value, money is said to function as a ________
Medium of exchange
Unit of account
Store of value
Compared to checks, paper currency and coins have the major disadvantages that they ______
Are easily stolen
Are easy to counterfeit
Are easy to lose
All of the above
A defining feature of a cryptocurrency, and arguably its most endearing attraction is its
Fluctuating value
Organic nature
Regulated nature
None of the above
If an individual moves money from currency to a demand deposit account, then ______
M1 decreases and M2 stays the same
M1 stays the same and M2 increases
M1 stays the same and M2 stays the same
M1 increases and M2 stays the same
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