Money Basics
Money is best described as a…
A) Tool we use for trade
B) Game people play
C) Type of credit card
D) Kind of jewelry
A) Tool we use for trade
If you make $8 per hour and work 5 hours, what do you earn?
A) $40
B) $50
C) $35
D) $20
A) $40
Overtime usually means working more than…
A) 20 hours a week
B) 40 hours a week
C) 60 hours a month
D) 10 hours a day
B) 40 hours a week
True or False: No living person may appear on U.S. money.
A) True
B) False
C) Only on coins
D) Only on $1 bills
A) True
Rajaa earns $7.50/hour. He works 4 hours on Monday and 3.5 on Wednesday. How much did he make?
A) $26.25
B) $30.00
C) $56.25
D) $15.00
A) $26.25
What do we call trading items without using money?
A) Borrowing
B) Bartering
C) Banking
D) Shopping
B) Bartering
The lowest legal hourly pay an employer must give is called…
A) Double time
B) Minimum wage
C) Bonus pay
D) Overtime
B) Minimum wage
If you earn $10 an hour, time-and-a-half pay is…
A) $12.50
B) $15.00
C) $20.00
D) $25.00
B) $15.00
Which building appears on the back of the $100 bill?
A) White House
B) Capitol
C) Lincoln Memorial
D) Pentagon
B) Capitol
Juanita makes $450 for 40 hours. How much per hour?
A) $10.50
B) $11.25
C) $12.50
D) $15.00
B) $11.25
Why is money more convenient than bartering?
A) It is always shiny
B) Everyone values it
C) You can’t lose it
D) It never changes
B) Everyone values it
What tool do employers often use to track hours worked?
A) Calculator
B) Timecard
C) Report card
D) Notebook
B) Timecard
Double time means…
A) Half your pay
B) Same as your regular pay
C) Twice your pay
D) Three times your pay
C) Twice your pay
True or False: Benjamin Franklin was a U.S. president.
A) True
B) False
C) Only once
D) Only in the 1700s
B) False
Ahmed earns $10.40/hour. His weekly pay was $384.80. How many hours did he work?
A) 36
B) 37
C) 38
D) 40
C) 38
Which of these is not a function of money?
A) Medium of exchange
B) Way to measure value
C) Tool to save wealth
D) Way to play sports
D) Way to play sports
If Juanita earns $450 a week for 40 hours, what is her hourly pay?
A) $12.50
B) $11.25
C) $10.50
D) $15.00
B) $11.25
Irene earns $14.75/hour and worked 46 hours. How many were overtime?
A) 2
B) 4
C) 6
D) 8
C) 6
The first paper money in America was issued in…
A) 1492
B) 1690
C) 1776
D) 1913
B) 1690
Irene earns $14.75/hour. She worked 46 hours. What were her total earnings (including overtime)?
A) $661.25
B) $736.25
C) $680.00
D) $700.00
B) $736.25