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Question 23
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Money that has an alternative use as an economic good is
Select one:
a. commodity money.
b. fiat money.
c. specie.
d. wampum.
Question 24
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The FDIC was established to
Select one:
a. create a government banking monopoly.
b. protect the savings of the American people.
c. help with the financing of World War II.
d. federalize the banking system.
Question 25
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The problem with Continental dollars, which were printed during the Revolutionary War, was
that
Select one:
a. they were backed by gold and not silver.
b. they were fiat money.
c. they were backed by individual states.
d. so much was printed they became nearly worthless.
Question 26
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When money is easily transferred from one person to another, it is said to be
Select one:
a. accepted.
b. portable.
c. divisible.
d. durable.
Question 27
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Which of the following will most likely happen if interest rates are raised?
Select one:
a. Fewer businesses and private citizens will apply for loans and there will be a general decrease
in the money supply.
b. More private citizens and businesses will apply for loans.
c. Businesses will likely apply for more loans, while private citizens may or may not.
d. The money supply will expand
Solution
Hi,
The correct answers are as follows:
23. commodity money
24. protect the savings of the American people
25. so much was printed they became nearly worthless.
Eplanation: Paper money issued to finance the Revolutionary War. A large volume was printed
to pay soldiers and supplies. So much was printed it made the currency virtually worthless.
26. Portable
27. . Fewer businesses and private citizens will apply for loans and there will be a general
decrease in the money supply

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Question 23Not yet answeredMarked out of 1.00Flag questionQu.pdf

  • 1. Question 23 Not yet answered Marked out of 1.00 Flag question Question text Money that has an alternative use as an economic good is Select one: a. commodity money. b. fiat money. c. specie. d. wampum. Question 24 Not yet answered Marked out of 1.00 Flag question Question text The FDIC was established to Select one: a. create a government banking monopoly. b. protect the savings of the American people. c. help with the financing of World War II. d. federalize the banking system. Question 25 Not yet answered Marked out of 1.00 Flag question Question text The problem with Continental dollars, which were printed during the Revolutionary War, was that Select one: a. they were backed by gold and not silver. b. they were fiat money. c. they were backed by individual states. d. so much was printed they became nearly worthless. Question 26
  • 2. Not yet answered Marked out of 1.00 Flag question Question text When money is easily transferred from one person to another, it is said to be Select one: a. accepted. b. portable. c. divisible. d. durable. Question 27 Not yet answered Marked out of 1.00 Flag question Question text Which of the following will most likely happen if interest rates are raised? Select one: a. Fewer businesses and private citizens will apply for loans and there will be a general decrease in the money supply. b. More private citizens and businesses will apply for loans. c. Businesses will likely apply for more loans, while private citizens may or may not. d. The money supply will expand Solution Hi, The correct answers are as follows: 23. commodity money 24. protect the savings of the American people 25. so much was printed they became nearly worthless. Eplanation: Paper money issued to finance the Revolutionary War. A large volume was printed to pay soldiers and supplies. So much was printed it made the currency virtually worthless. 26. Portable 27. . Fewer businesses and private citizens will apply for loans and there will be a general decrease in the money supply