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Currency: Quiz


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Question 1: In Europe paper money was first introduced in ________ in 1661.

Question 2: With the creation of ________, currency underwent several significant changes.
Bank for International SettlementsFederal Reserve SystemOpen market operationsCentral bank

Question 3: By contrast, several countries can also use the same currency (e.g., the ________), or one country can declare the currency of another country to be legal tender.
European Central BankEuroEurozonePound sterling

Question 4: Usually (gold or silver) coins of intrinsic value commensurate with the monetary unit (________), have been the norm.
Commodity moneyPrecious metalInflationEconomics

Question 5: One of the last countries to break away from the ________ was the United States in 1971.
Central bankSilver standardGold standardFederal Reserve System

Question 6: The already widespread methods of woodblock printing and then Bi Sheng's ________ printing by the 11th century was the impetus for the massive production of paper money in premodern China.
Letterpress printingTypographyTypefaceMovable type

Question 7: Khaleeji (currency): Gulf Cooperation Council (________, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates)

Question 8: For example, Panama and ________ have declared U.S.
El SalvadorMexicoGuatemalaNicaragua

Question 9: Private ________ and governments across the world followed Gresham's Law: keeping gold and silver paid, but paying out in notes.
Investment bankingOffshore bankBankCommercial bank

Question 10: Second, because it created money that did not exist, it increased inflationary pressures, a fact observed by ________ in the 18th century.
David HumeGeorg Wilhelm Friedrich HegelFriedrich NietzscheImmanuel Kant


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