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