Economics 50 Multiple Choice Questions

Jun 27th, 2016
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Question Question 1 The central bank of the United States is: Answer a. The Bank of America b. The Federal Reserve System c. The U.S. Treasury d. Citibank 0.5 points Question 2 In the United States control of the money supply is given to: Answer a. The President b. The Federal Reserve System c. The Bureau of Printing and Engraving d. The Department of the Treasury 0.5 points Question 3 Which best describes money as a means of payment? Answer a. Money provides an immediate double coincidence of wants b. Money makes sure a double coincidence of wants never occurs c. Money requires at least two transactions to obtain the double coincidence of wants d. To obtain a double coincidence of wants without money is impossible 0.5 points Question 4 Money as a means of payments refers only to: Answer a. Actual currency b. Coins and currency c. Coins, currency and credit cards d. Anything that is generally accepted as payment for goods and services 0.5 points Questio

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Economics 50 Multiple Choice QuestionsQuestionQuestion 1The central bank of the United States is:Answera. The Bank of Americab. The Federal Reserve Systemc. The U.S. Treasuryd. Citibank0.5 pointsQuestion 2In the United States control of the money supply is given to:Answera. The Presidentb. The Federal Reserve Systemc. The Bureau of Printing and Engravingd. The Department of the Treasury0.5 pointsQuestion 3Which best describes money as a means of payment?Answera. Money provides an immediate double coincidence of wantsb. Money makes sure a double coincidence of wants never occursc. Money requires at least two transactions to obtain the double coincidence of wantsd. To obtain a double coincidence of wants without money is impossible0.5 pointsQuestion 4Money as a means of payments refers only to:Answera. Actual currencyb. Coins and currencyc. Coins, currency and credit cardsd. Anything that is generally accepted as payment for goods and services0.5 pointsQuestion 5The statement "risk requires compensation" implies that people:Answera. Do not take riskb. Only accept risk when they absolutely have toc. Will only accept risk when they are rewarded for doing sod. Avoid risk at all cost0.5 pointsQuestion 6Which of the following statements best describes financial instruments?Answera. All financial instruments are a means of paymentb. Financial instruments can transfer resources between people but not riskc. Financial instruments can tra

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