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Money And Monetary Policy
Test Description: Chapter 11-15 final exam review
Instructions: Answer all questions to get your test result.
1) What is commodity money?
A
gold
B
credit cards
C
dollar bills
D
furniture
2) What do shells, coins, and dollar bills represent?
A
specie, wampum, currency
B
wampum,specie,fiat money
C
specie, fiat money, currency
D
fiat money, currency, wampum
3) How do we keep money's value?
A
more distribution of money
B
PADDUL
C
stop printing money
D
inflation
4) What has been happening to the US dollar?
A
has not moved
B
has been steady
C
has been decresing
D
has been rising
5) Dollar value of all final goods produced within a nations border in one year is?
A
Supply
B
demand
C
FDIC
D
GDP
6) Business cycle is?
A
GDP
B
peak of GDP
C
up and down of GDP
D
left and right of GDP
7) The order of business cycle is?
A
trough, expansion, recession, peak
B
trough, expansion, peak, recession
C
expansion, trough, peak, recession
D
expansion, trough, recession, peak
8) Six months in real GDP is down for?
A
contraction
B
recession
C
expansion
D
business cycle
9) What are tools of monetary policy?
A
open market operations
B
discount rate
C
inflation gap
D
reserve requirement
10) Why was the FDIC established?
A
to give money
B
to speed up the economy
C
to trust banks
D
to slow down the economy
*select an answer for all questions
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