Unit 10 Review Part 1 Question Preview (ID: 33838)
Unit 10 Review Part 1.
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A group of 28 countries that operates as a cohesive economic and political block.
a) NAFTA
b) ASEAN
c) the EU
d) the Commonwealth of Independent States
Which of the following is NOT true about the euro?
a) It is very similar to the dollar because it is divided into various denominations (has different values in coins and bills).
b) It is only traded in Europe.
c) It is a shared currency of Europe.
d) Its symbol is a tribute to Greece and the stability that it brings to the countries that use it.
During which of the following did people have confidence in the American financial system?
a) Panic of 1907
b) The Great Depression
c) Terrorist attacks of 9/11/01
d) Dot-com bubble
Fiat money
a) has intrinsic value.
b) is no longer used in the United States.
c) has been the most popular type of money throughout most of history.
d) has value that is established by government decree.
The ______________________ brought factories and a new level of production to America that resulted in increased use of currency, purchase of consumer goods, and borrowing of money.
a) Revolutionary War
b) Industrial Revolution
c) Panic of 1907
d) dot-com bubble
A slip of paper a wealthy person presented to a recipient to take to the bank to exchange for coins is called a
a) bank note.
b) cask.
c) usury.
d) credit card.
A coin that is made out of pure gold is an example of
a) fiat money.
b) commodity money.
c) money that is currently used widely throughout the U.S.
d) all of the above.
Humans have been using some form of money
a) since 1945.
b) since the 1800s.
c) for thousands of years.
d) for billions of years.
What did all of the early forms of money have in common?
a) All of the early forms of money involved cows or things that come from cows
b) People agreed on their value and made them convenient to transport and trade.
c) They made it more difficult to borrow, save, and compare the value of goods and services.
d) All of the above
Which of the following services offered by financial institutions would a person be looking for if he/she wanted to put money in a safe place and make money by earning interest?
a) Saving
b) Spending
c) Borrowing
d) All of the above
Which of the following services offered by financial institutions would a person be looking for if he/she needed more money than what is in his/her account to pay college tuition or buy a car?
a) Saving
b) Spending
c) Borrowing
d) All of the above
Which of the following services offered by financial institutions would a person be looking for if he/she needed more cash or wanted to make automatic payments from an account with his/her funds?
a) Saving
b) Spending
c) Borrowing
d) All of the above
Which of the following offer checking accounts, savings accounts, check cashing, consumer loans, certificates of deposit, and deposit insurance to customers?
a) Banks
b) Savings and loan companies
c) Credit unions
d) All of the above
Which of the following are non-profit and owned by their members?
a) Banks
b) Savings and loan companies
c) Credit unions
d) All of the above
Which of the following typically insures banks and savings and loan companies in the United States?
a) The White House
b) The International Monetary Fund (IMF)
c) The Federal Deposit Insurance Corporation (FDIC)
d) The National Credit Union Administration (NCUA)
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