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34. Banks
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) what is the reason smart people put their money in a bank?
A
keep them from spending it all
B
interest
C
charity
D
keep it safe
2) amount money grows over time
A
capital resources
B
interest
C
opportunity cost
D
scarcity
3) How can a bank afford to pay 3% interest to depositors?
A
they magically print more money
B
banks charge borrowers 6% interest
C
banks are charities that give money way
D
fees from other depositors
4) Banks are middle men between depositors and borrowers.
A
False
B
True
5) A depositor is like a bank for banks; they are actually borrowing money from depositors.
A
False
B
True
6) Why are banks MORE than just a middle man between depositors and borrowers?
A
local banks print money
B
banks are experts at finding the right borrowers, this enables to earn money via loans and pay depositors interest
C
they are NOT more than just middle man, and are unnecessary
D
bank vaults are necessary to keep money safe
7) Who is affected when borrowers do not pay back their loans?
A
banks can go out of business if loans are not paid back
B
if a borrow defaults (does not pay back a loan), then they might need to forfeit other property to the bank
C
depositors lose their money when the bank fails
D
all of the above
8) Which is NOT a consequence of banks going out of business?
A
less jobs
B
less businesses growth
C
the economy grows
D
less money in the economy
9) Who is to blame for the 2008 financial crisis?
A
all of the above
B
Borrowers, they took out loans that they could not pay bak
C
Government, they forced banks to make bad loans and promised to bail the banks out
D
Banks, they made risky loans
10) Which is an incorrect opportunity cost pair?
A
risky loans (more loans), high reward (more profit)
B
safe loans (fewer loans), low reward (less profit)
C
risky loans, borrowers default and the bank goes out of business
D
safe loans, borrowers default and the bank goes out of business
*select an answer for all questions
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