Money

Question 1

A currency’s exchange rate is

Revolt · Accepted Answer

its changing value relative to other currencies.

Question 2

A currency is a system of money created and used by

Revolt · Accepted Answer

a nation or region of the world.

Question 3

What gives commodity money its value?

Revolt · Accepted Answer

the type of material with which it is made

Question 4

What might cause a change in the value of fiat money?

Revolt · Accepted Answer

a change in government regulations

Question 5

What is one problem that might commonly occur when one is bartering?

Revolt · Accepted Answer

Two people have different ideas about the value of an item.

Question 6

The condition of a country’s depends on its people’s ability to exchange money for goods and services.

Question 7

What kind of money is a gold certificate considered to be?

Revolt · Accepted Answer

representative

Question 8

People might choose to use a debit card rather than cash for purchases because

Revolt · Accepted Answer

they do not want to carry around large amounts of cash.

Question 9

Which is an advantage of using modern currency instead of a barter system?

Revolt · Accepted Answer

ability to store and use a form that is accepted everywhere

Question 10

Why must old currency be taken out of circulation when new currency is made?

Revolt · Accepted Answer

Too much currency in an economic system will cause inflation.

Money Answers