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1. The euro makes it easier to transfer funds from ______________.
a. city to city
b. state to state
c. country to country
2. The monetary authority of the United States that is responsible for regulating and supervising banking institutions is called the _______________.
a. Federal Reserve Board
b. Department of Economy
c. Federal Reserve Department
3. The ___________ is the expressed percentage of money set by the Federal Reserve that a bank must have on hand.
a. reserved funds
b. reserve ratio
c. monetary reserve
4. The government's plan for adjusting its spending and how it will influence the nation's economy is called ____________.
a. annual report
b. financial report policy
c. fiscal policy
5. Buying a yacht is an example of a ________________.
a. fixed expense
b. flexible expense
c. luxury expense
6. Making a monthly car payment is an example of a _______________.
a. fixed expense
b. flexible expense
c. luxury expense
7. Food and miscellaneous items are an example of a ______________.
a. fixed expense
b. flexible expense
c. luxury expense
8. Today, society accepts __________ as a way to pay for goods and services.
a. an I.O.U
b. money
c. bartering
9. The government spending less money than it collects in taxes is known as ____________.
a. deficit spending
b. budget surplus
c. e-commerce
10. The government spending more money than it collects in taxes is known as ____________.
a. deficit spending
b. budget surplus
c. equilibrium spending
11. Money provided by the government to assist an industry or business is called _________.
a. subsidy
b. taxes
c. revenue
12. Money issued by the government for the exchange of goods and services in a particular country is called ____________.
a. revenue
b. income
c. currency
Select the correct answer for each question from the choices given. When you have completed your quiz, check your answers.
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Social Studies: Monetary Policy - Quiz
