Results: "Coin Chronicles: Unraveling the Mysteries of Money"
Published on 04/23/2024
Dive into the realm of finance with "Coin Chronicles: Unraveling the Mysteries of Money". This quiz challenges your understanding of the intricate world of currency, economics, and financial systems. Test your knowledge on topics ranging from the functions of money to inflation, monetary policy, and investment principles. Whether you're a seasoned investor or a curious learner, embark on this journey to enhance your financial fluency and unravel the mysteries behind the coins in your pocket.
QUESTIONS
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Comments
1.
1.
Which of the following is NOT a function of money? Medium of exchange
7%
158 votes
Store of value
18%
390 votes
Unit of labor
55%
1210 votes
Unit of account
20%
442 votes
2.
2.
What term refers to the total value of all goods and services produced in a country in a given period? Gross Domestic Product (GDP)
67%
1475 votes
Consumer Price Index (CPI)
14%
301 votes
Inflation rate
9%
198 votes
Money supply
10%
226 votes
3.
3.
Which of the following is considered a form of fiat money? Gold coins
22%
477 votes
Silver bars
16%
356 votes
Paper currency
31%
678 votes
Digital currency
31%
689 votes
4.
4.
When the supply of money increases faster than the supply of goods and services, what is likely to happen? Deflation
32%
711 votes
Stagflation
12%
255 votes
Hyperinflation
32%
693 votes
Recession
25%
541 votes
5.
5.
What term refers to the rate at which the general level of prices for goods and services is rising? Inflation
72%
1582 votes
Deflation
6%
123 votes
Hyperinflation
7%
155 votes
Stagflation
6%
136 votes
Other (please specify)
0%
9 votes
Not Applicable
9%
196 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 0.35% | 7 | |
| Irritation | 0.05% | 1 |
| No idea. | 0.05% | 1 |
6.
6.
Which of the following is NOT a characteristic of commodity money? Durability
21%
469 votes
Acceptability
11%
246 votes
Portability
17%
369 votes
Government backing
32%
699 votes
Other (please specify)
0%
10 votes
Not Applicable
19%
408 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 0.45% | 8 | |
| Is this a quiz from an econ class? | 0.06% | 1 |
| No idea. | 0.06% | 1 |
7.
7.
What type of inflation occurs when the overall demand for goods and services exceeds the supply? Cost-push inflation
13%
294 votes
Demand-pull inflation
49%
1078 votes
Hyperinflation
22%
473 votes
Stagflation
16%
356 votes
8.
8.
Which of the following is an example of near money? Cash
28%
608 votes
Checking account deposits
23%
515 votes
Stocks
24%
531 votes
Bonds
22%
493 votes
Other (please specify)
2%
54 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 1.64% | 36 | |
| n/a | 0.14% | 3 |
| na | 0.09% | 2 |
| no idea | 0.09% | 2 |
| Who cares? | 0.05% | 1 |
| No clue. | 0.05% | 1 |
| savings accounts, CDs, foreign currencies, money market accounts, T bills, securities | 0.05% | 1 |
| who cares | 0.05% | 1 |
| ??? | 0.05% | 1 |
| Bitcoin | 0.05% | 1 |
| near and dear to me? | 0.05% | 1 |
| Idk | 0.05% | 1 |
| what??? | 0.05% | 1 |
| Cheese | 0.05% | 1 |
| I have no idea | 0.05% | 1 |
9.
9.
What term refers to the interest rate at which a central bank lends money to commercial banks? Prime rate
48%
1053 votes
Discount rate
23%
504 votes
Federal funds rate
17%
384 votes
LIBOR rate
10%
212 votes
Other (please specify)
2%
48 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 1.82% | 40 | |
| Not a clue. | 0.05% | 1 |
| No idea. | 0.05% | 1 |
| Key interest rate set by the Bank of Canada | 0.05% | 1 |
| not sure | 0.05% | 1 |
| who cares | 0.05% | 1 |
| ??m | 0.05% | 1 |
| not a clue | 0.05% | 1 |
| No clue | 0.05% | 1 |
10.
10.
In the context of investments, what does the acronym ROI stand for? Return on Inflation
8%
165 votes
Return on Investment
64%
1414 votes
Rate of Inflation
12%
260 votes
Rate of Interest
15%
321 votes
Other (please specify)
2%
41 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 1.59% | 35 | |
| I don't care. | 0.05% | 1 |
| No idea. | 0.05% | 1 |
| do not know | 0.05% | 1 |
| who cares | 0.05% | 1 |
| ??? | 0.05% | 1 |
| Too many questions for one survey. | 0.05% | 1 |
11.
11.
How many did you get right? The answers are 1) Unit of labor, 2) GDP, 3) Silver bars OR gold coins, 4) Inflation, 5) Inflation, 6) Government backing, 7) Demand-pull inflation, 8) Stocks OR bonds, 9) Discount rate and 10) Return on Investment 1-4
34%
755 votes
5-8
36%
789 votes
9-10
12%
266 votes
Not Applicable
18%
391 votes
COMMENTS