COPYRIGHTED MATERIAL
ARE YOU FINANCIALLY LITERATE? CHAPTERS 1-5
True
_________ 25. One of the key functions of money is to provide a store of value.
2 PTS ___
____________________________________________________________ ____________________________________________________________ ____________________________________________________________ _________ 26. The Federal Reserve Bank conducts the nation’s monetary policy, but considers its goals of maximum employment and stable prices as most important. ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ _________ 27. Bitcoin is a virtual currency that has been accepted by the U.S. and many other counties as legal tender. 28. With regard to VC, what does P2P mean? Who or what is excluded in P2P? _ ____________________________________________________________________ _ ____________________________________________________________________ 29. How does the Federal Reserve Bank move money in and out of the U.S. money supply? a. Buys and sells government bonds (open market operations.) b. Orders commercial banks to increase or decrease their deposit reserves held by reserve banks. (Reserve requirements) c. Adjusts interest rates on money loaned to commercial banks. (Discount rate) d. All of the above. 30. How will being financially literate improve your ability to succeed in high school? College? Life? _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ False True P2P means peer-to-peer exchanges without any involvement of a bank or government. Student's discretion Store of value enables the accumulation of wealth and use of money for development and improvement of things. Bitcoin is a virtual currency, but it is not legal tender in the U.S. or anywhere else . The Fed has other duties but it considers its making of monetary policy the most important. PRODUCT PREVIEW ____________________________________________________________ ____________________________________________________________ ____________________________________________________________
2 PTS ___
2 PTS ___
2 PTS ___
1 PT ___
3 PTS ___
SCORE: ____ / 58
88
Assessment
Made with FlippingBook flipbook maker