Identify the choice that best completes the statement or answers the question. ____ 6. Perfect competition is characterized by all of the following EXCEPT a. a large number of buyers and sellers. c. sellers acting together to set prices. b. identical
heat waves or cold spells. Extreme weather is often destructive. ... Heat waves and dry spells also occur. The most extreme form of weather in the region is the tropical cyclone. In the Caribbean, tropical cyclones are called hurricanes. This is a po
B. We now let the magnetic field be composed of the large bias field and a small oscillating transverse field: . B = Boz + B1cosÏotx. With this we obtain the Hamiltonian: Ë. H = e m. Bo. Ë. Sz + e m. B1cosÏotËSx. Now use 2Ã2 matrix formulation
Key Terms pressure millimeters of mercury partial pressure newton atmosphere of pressure. Dalton's law of partial pressures barometer pascal. In the chapter âStates of Matter,â you read about the kinetic-molecular theory, which is based on the id
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describe the conï¬icts between Federalists and Republicans over thejudiciary and the important legal precedents that developed ... paciï¬st Characterized by principled opposition to all war and belief in nonviolent solutions to. conï¬ict. âA cha
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Chapter 11 Test True/False Indicate whether the statement is true or false. ____
1. Wampum was a form of currency used in colonial Virginia.
2. To be a successful medium of exchange money must exist in an unlimited supply.
3. Fiat money has no inherent worth.
4. All state banks were required to join the Fed when it was established in 1913.
5. During the 1990s commercial banks, savings and loan associations, and savings banks became more similar.
Multiple Choice Identify the choice that best completes the statement or answers the question. ____
6. Money that has an alternative use as an economic good is a. commodity money. c. wampum. b. fiat money. d. specie. 7. Money loses its value when it a. becomes too portable. c. is durable. b. is divisible. d. becomes too plentiful. 8. When a bank is about to collapse, a. up to $10,000 can be paid to depositors. b. up to $10,000 can be paid to shareholders. c. the FDIC may secretly seize the bank. d. the FDIC must publicly seize the bank. 9. The FDIC was established to a. protect the savings of the American people. b. help with the financing of World War II. c. federalize the banking system. d. create a government banking monopoly. 10. When Congress reformed the thrift industry in 1989, all of the following occurred EXCEPT a. the Federal Home Loan Bank Board was abolished. b. the FDIC assumed insurance responsibilities for the thrift industry. c. the government set up a temporary agency to dispose of failed thrifts. d. remaining S&Ls were merged with commercial banks. 11. The problem with Continental dollars was that a. so much was printed they became nearly worthless. b. they were backed by gold and not silver. c. they were fiat money. d. they were backed by individual states. 12. In order for money to have value, it must have all of the following characteristics EXCEPT a. portability. c. durability. b. plentiful availability. d. divisibility.
____ 13. Local banks in the 1800s that printed too much money were called a. wildcat banks. c. treasuries. b. central banks. d. national banks. ____ 14. The Federal Reserve System was established in a. 1799. c. 1881. b. 1863. d. 1913. ____ 15. As a result of the financial institution crisis of the 1980s, S&Ls are now insured by the a. FSLIC. c. Fed. b. FDIC. d. National Banking System. ____ 16. To get its new Sacajawea dollar into circulation, the U.S. Mint has issued more than 500 million of the golden coins since the end of January, not only to banks, but also to Wal-Mart and Sam’s club stores. But in what may be the greatest coin trick ever, the dollars have all but vanished. People are making them into jewelry, auctioning them off on eBay, and leaving them under pillows on behalf of the tooth fairy—anything but spending them.... The Mint expects Sacajawea to be back in circulation by year-end, when more than a billion of the dollars will have been minted and the novelty, it hopes, will have worn off. Source: Kiplinger’s Personal Finance Magazine, July 2000.
a. b. c. d.
Based on the passage, Sacajawea dollars have disappeared because many people believe they are worth more as a commodity than as currency. worth less than a dollar. not real money. too numerous to have value as money.
____ 17. Because Russian currency is not trusted, real money plays a fairly small part in Russia’s economy today. Most business is conducted by barter or with IOUs. For example, workers rarely receive wages in the form of cash. A bicycle factory outside the city of Perm pays its workers in bicycles! To get cash, the workers have to sell their “paychecks.” More often than not, they simply trade the bicycles for the products they want. According to the passage, most business in Russia is conducted without currency because Russian currency is not a. accepted. c. divisible. b. portable. d. durable.
____ 18. United States Constitution Article 1, Section 8: The Congress shall have the power To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures; To provide for the punishment of counterfeiting the securities and current coin of the United States;... To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof. Article 1, Section 10: No State shall...coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts....
a. b. c. d.
These passages in the Constitution made which of the following statements true at that time? Only the states could make coins. Only the states could print paper money. The government could not print paper money. Only gold coins were acceptable money.
Matching Match each statement with the correct item below. a. mechanism by which money is kept portable, durable, divisible, and limited in supply b. legal tender printed by the Union during the Civil War that was not backed by gold or silver c. bank that caters to the needs of business and commerce d. economy based on trade rather than money e. monetary standard under which currency can be exchanged for gold f. depository institution that invests most of its funds in home mortgages g. something accepted as payment for goods and services h. fiat money that must be accepted in payment for debt i. paper currency issued by the Federal Reserve System j. paper currency backed by gold ____ ____ ____ ____ ____ ____ ____ ____ ____ ____
19. 20. 21. 22. 23. 24. 25. 26. 27. 28.
barter economy savings and loan association medium of exchange gold certificate Federal Reserve Note monetary standard commercial bank legal tender gold standard United States note