Economics Principles & Practices

Chapter 11: Money and Banking

Self-Check Quizzes

1
A __________ economy is a moneyless economy that relies on trade.
A)barter
B)market
C)trade
D)sans dinero
2
A __________ is something accepted by all parties as payment for goods and services.
A)mutual capital
B)medium of exchange
C)medium of barter
D)measure of value
3
To be successful, money must be __________.
A)portable, non durable, indivisible, and limited in supply
B)nontransferable, durable, divisible, and unlimited in supply
C)portable, non durable, divisible, and unlimited in supply
D)portable, durable, divisible, and limited in supply
4
Fraudulent banks that printed large amounts of currency in remote areas to make the redemption of their currency difficult were known as __________ banks.
A)wildcat
B)brigand
C)looter
D)serpentine
5
Since 1934 the United States has been on a(n) __________ money standard, a monetary standard under which the fiat money supply cannot be converted into gold or silver.
A)inconvertible fiat
B)convertible fiat
C)transmutable fiat
D)convertible declaration
6
Concern about the safety of bank deposits often caused a(n) __________, rush by depositors to withdraw their funds from a bank before it failed.
A)depositor rush
B)run on the bank
C)run on savings
D)withdrawal rush
7
Banks that catered to the interests of business and commerce and had the power to issue checking accounts were known as __________ banks.
A)demand deposit
B)central
C)mutual savings
D)commercial
8
A factor contributing to the savings and loan crisis of the 1980s was _______.
A)FIRREA
B)bank holidays
C)deregulation
D)demand deposit accounts
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