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Class 12 Economics (Macro Economics) Chapter 3 Money And Banking Quiz 1 (60 MCQs)

Quiz Instructions

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1. ..... refers to the price paid for the use of borrowed money.
2. Reverse repo rate is the rate at which the central bank lends funds to banks
3. If an economy is to control recession like like most of Euro-Zone nations, Which of the following can be appropriate?
4. People can trade in goods and services which feature of money does this describe?
5. Reserves of commercial banks are:
6. T/F:Central banks can create credit in the same way commercial banks do.
7. The Federal Reserve .....
8. Money thai is issued by the authority of the government is called-
9. Something that holds its value over time
10. How do banks make money through lending?
11. The current chairperson of the Federal Reserve is:
12. All units of money must be identical so that people recognize it.
13. The Federal Reserve System was established in
14. Basic function is as an accepted medium of exchange, standard of value, and a store of wealth. Allows all goods and services to be valued in the same objective way:i.e. in relation to a monetary value.
15. Which of these can cost you money in large interest payments?
16. Statistical definitions of Supply of Money:M1 + deposits with agreed maturity of up to 2 years, and deposits redeemable at a period of notice up to 3 months.
17. In what year did the US Congress establish the nation's first bank (Bank of the United States)?
18. Money has ..... if it can be broken down into smaller units so it can be used as needed.
19. Originally provided services to businesses, a(n) ..... provides most of the services and plays the largest role in our economy today.
20. In a small village, Dimas needed food for his family, while Heri had an abundance of fruits from his orchard. Instead of using money, they decided to trade directly. What was the primary method of exchange they used before the invention of money, when people fulfilled their needs directly from nature and later through direct exchange?
21. In order to encourage investment in the economy, the Central Bank may .....
22. What did people practice or do with their goods before money existed?
23. All the followings are the functions of Bank Negara Malaysia EXCEPT .....
24. What does the acronym FDIC stand for
25. The price paid for the use of borrowed money.
26. What is the purpose of Open Market Operations conducted by the Central Bank?
27. What is the primary role of banks?
28. The sale and purchase of securities by the Central Bank is called:
29. Any commodity that can be held in order to enable people to buy and sell it at different times and different places refer the function of money as .....
30. Which is a secondary function of commercial banks?
31. Which of the following is used to describe money that is in your pocket, your checking account, and your piggy bank?
32. Your present self impacts your future self
33. An antonym for "to open an ccount" is:
34. ..... :money in the form of gold or silver coins
35. Fiat money is money because the government says so. Which is fiat money?
36. Stocks are ..... that help people increase their assets.
37. Llenar (un formulario)
38. To put money into your account
39. ..... is a sudden rush by depositors to withdraw their deposited funds from banks.
40. What is the impact of high inflation on the economy?
41. ..... are a paper currency issued by the FED. this is the real name for our bills.
42. What should you do with money you get as a gift?
43. Currency of England
44. The federal funds rate is the rate:
45. One of the money supply is
46. One of the functions of central bank is .....
47. What happens to interest rates when the central bank increases the money supply?
48. What is money supply
49. The Federal Reserve is called "The Bankers Bank" because it supervises banks.
50. People can take their money with them easily.
51. What is the ratio of deposits which commercial banks are required to keep with themselves called?
52. Which of the following is an example of a banking service?
53. Money must be able to withstand the wear and tear of many people using it.
54. If initial deposit is 10, 000, CRR is 8% and SLR is 12%, what will be the amount of total deposits created by commercial banks?
55. Which of the following was never used as currency?
56. Given below are two statements, one (A) and the other labelled as (B):Statement (A):the first and foremost role of money is that it acts as a medium of exchange. Statement (B):Money also acts as a convenient unit of account.In the context of the above two statements, which of the following is correct?
57. Are career prospects a wage or non wage factor?
58. Credit creation in commercial banks in determined by:
59. Which of the following is the BEST example of a barter system?
60. The value of token money is ..... its cost of production
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