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Intermediate Money Quiz

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