unit 3 Money and Banking part 1

Presentation

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Social Studies

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12th Grade

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Practice Problem

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Medium

Adam Ramos

Used 3+ times

FREE Resource

8 Slides • 10 Questions

Multiple Choice

Which of the following is NOT a function of money as described in the evolution of money?

Medium of exchange

Measure of value

Store of value

Source of income

Multiple Choice

Why is the concept of money significant in shaping societies and economies throughout history?

Money serves only as a means to collect taxes and fees.

Money is significant solely for personal savings and investments.

Money is only a physical object with no real value.

Money is significant because it facilitates trade, provides a unit of account, and acts as a store of value, shaping economies and societies.

Multiple Choice

Which of the following is NOT a characteristic of money as described in the lesson?

Portability

Durability

Divisibility

Inflation

Multiple Choice

Explain how the development of currency in America changed from the Revolutionary War to the introduction of Treasury coin notes in 1890.

The introduction of paper money was delayed until the Civil War era.

The development of currency in America evolved from the depreciated 'Continentals' during the Revolutionary War to the establishment of a unified currency system with Treasury coin notes in 1890.

Currency remained stagnant with no significant changes until 1900.

The use of gold and silver coins dominated throughout the Revolutionary War.

Fill in the Blanks

Multiple Select

Which of the following are advantages of the gold standard?

People feel more secured

Prevents government from printing too much money

Gold stock grows fast enough for any economy

Price of gold never changes

Multiple Choice

Describe the impact of the Great Depression on the banking system and how the government responded to the crisis.

The Great Depression led to increased bank profits and stability, with no significant government intervention.

Banks thrived during the Great Depression, resulting in minimal changes to financial regulations.

The government ignored the banking crisis, allowing banks to operate without any oversight.

The Great Depression caused bank failures and a loss of public confidence in the banking system, prompting government reforms like the Emergency Banking Act and the creation of the FDIC.

Match

Match the following

When banks hold a portion of deposits to cover potential withdrawals and then loans the rest of the money out.

Money deposited in a commercial bank in a checking account.

The percent that banks must hold by law.

The amount that the bank can loan out.

A record of a bank’s assets, liabilities, and net worth.

Fractional Reserve Banking

Demand Deposits

Required Reserves

Excess Reserves

Balance Sheet

Fill in the Blanks

Multiple Choice

What is the importance of Credit Unions?

Credit unions charge high fees and interest rates.

Credit unions provide affordable financial services, promote savings, and support community development.

Credit unions focus solely on profit maximization.

Credit unions are only for large corporations.

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