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Intermediate Money Quiz
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Why does money work?
 
People trust and accept it
 
People are scared of it
 
Money is made of expensive materials
 
Money never changes
What causes inflation?
 
Too much money
 
Not enough money
 
A bank closing early
 
Walking into a store
What does a bank charge on loans?
 
Interest
 
Tax
 
Coupons
 
Rent
What word means “money created by lending”?
 
Loan money
 
Digital interest
 
Salary inflation
 
Banking profits
Most modern money is:
 
Digital
 
Physical cash
 
Precious metals
 
Shells
What is a central bank’s main job?
 
Control interest rates
 
Make YouTube videos
 
making loans for businesses
 
Printing money everyday
Which example is NOT digital money?
 
Coins
 
Credit card payment
 
Mobile banking app
 
Online transfer
What year did the U.S. stop using the gold standard?
 
1971
 
1901
 
1955
 
2021
Governments create money by:
 
Selling bonds and borrowing
 
Printing in private houses
 
Asking stores to make money
 
Using salt again
A “bank run” happens when:
 
Everyone tries to withdraw money at the same time
 
Everyone wants to pay loans early
 
Everyone wants to deposit money at the same time
 
The bank is running a marathon for Christmas
Hyperinflation means:
 
Extremely fast price increases
 
Very slow inflation
 
No inflation at all
 
Only food prices rise
Inflation means:
 
Prices go up
 
Prices go down
 
Prices stay the same
 
Prices disappear
Which one is an advantage of banks?
 
They lend money to people
 
They destroy money
 
They print money at home
 
They charge no fees
Fractional reserve banking means:
 
Banks keep only part of deposits
 
Banks keep all deposits in a vault
 
Banks never lend money
 
Banks accept only gold
A bank “withdrawal” means:
 
Money you take out
 
Money you put in
 
Asking for a loan
 
Counting coins
A bank “deposit” means:
 
Money you put in
 
A loan from the bank
 
Money you take out
 
Money you bury in the ground
Digital money includes:
 
Online bank transfers
 
Bananas
 
Gold coins
 
RuneScape coins
Which group prints physical banknotes and coins?
 
Central banks
 
Commercial banks
 
Credit card companies
 
Governments
What is fiat money?
 
Money that has value because people trust it
 
Money made of metal
 
Money backed by gold
 
Money that can only be spent online
A commodity is:
 
Something with value itself
 
Something that has no value
 
A type of bank
 
A loan application
“Salary” originally comes from which word?
 
Salt
 
Sand
 
Silver
 
Sales
Paper money was first invented in:
 
China
 
India
 
Egypt
 
Mexico
Barter means:
 
Trading goods directly
 
Using gold bars to pay
 
Paying later
 
Giving money to a bank
The first coins were found in:
 
Lydia
 
Rome
 
China
 
Thailand
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