GMW
US Economy
Money
Banking
Guess Who
100
What is the theme for financial literacy week 2023?
1.“Invest in your future”
2.,,Make your money work for you "
3.,,Start small, dream big”
4.,,Plan your money, plant your future ”
,,Plan your money, plant your future ”. This theme prompts young people to be forward-looking and to have a broad view on the environment and society in their financial decisions.
100
What kind of economy does the US have?
1. socialism
2.communism
3.capitalism
The United States has a capitalist system .
100
What anonymous programmer or group of programmers created Bitcoin?
1.Bansky
2. Satoshi Nakamoto
3.Edureka Masterclass
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin.
100
Who runs the world money?
As of 2022, the World Bank is run by a president and 25 executive directors, as well as 29 various vice presidents.
100
William Henry Gates III (born October 28, 1955) is an American business magnate, investor, philanthropist, and writer. He is a co-founder of Microsoft,.
200
When did Global Money Week start?
1. 2017
2. 2020
3.2013
4.2015
2013. International Launch of Global Money Week is an annual money awareness program devised to inspire children and youths to get financial education. In 2013, it reached roughly one million children in 80 countries in Europe, the Americas, Africa, Asia, and the Middle East.
200
Prices for most things in the US are determined by:
1.Supply and demand
2.The president
3.Congress
4.The government
1! In any market transaction between a seller and a buyer, the price of the good or service is determined by supply and demand in a market.
200
According to many historians, which kingdom issued the first regulated coins?
1.Greece
2.Babylon
3.Lydia
4.Persia
Lydia. According to many historians, the kingdom of Lydia (in present-day Turkey) issued the first regulated coins in the 7th century BCE.
200
The TWO PRIMARY functions of commercial banks are to:
1. hold demand deposits and make loans.
2. create money and promote economic growth.
3. pay interest and provide customers economic security.
4. set interest rates and support the Federal Reserve.
The TWO PRIMARY functions of commercial banks are to hold demand deposits and make loans.
200
hint: ,,The father of modern economics "
Adam Smith's ideas–the importance of free markets, assembly-line production methods, and gross domestic product (GDP)–formed the basis for theories of classical economics.
300
How many countries have participated in GMW since 2012?
1. 145
2. 176
3. 102
4, 70
176 countries took part in GMW since 2012. All of them contributed to the financial education of the population through various activities financed by the government and private international organizations.
300
Which of these is the job of the Federal Reserve?
1.Keeping inflation under control
2.Keeping unemployment low
3.Being a lender of last resort to the U.S. banking system
4.All of the above
4. The Federal Reserve, the U.S.’s central bank, is responsible for monetary policy, and is charged by Congress with the “dual mandate” of maximizing employment and maintaining stable prices, a.k.a, keeping inflation in check.
300
What country introduced paper currency?
1.China
2.England
3.Japan
4.India
China. Given that paper is widely believed to have originated in China, it is fitting that this country introduced paper currency.
300
Loans, such as mortgages, are an important asset for banks because they generate revenue from the interest that the customer pays on the loan.
300
In 2014, this economist became the first woman appointed as chair of the Federal Reserve in the United States: Janet Yellen.
400
What are not sustainable reasons for saving?
1. To achieve a goal in the future
2. To be able to buy a new smartphone once a year
3 To be able to pay for repairs in an emergency
2! Saving to meet a personal goal in the future (own apartment, car, moped) or to be able to afford repairs to a washing machine in an emergency helps you stay financially healthy.
400
The Great Recession—the most recent world-wide economic downturn—started in:
1.2001
2.1929
3.1918
4.2007
4! The Great Recession was triggered by the financial crisis of 2007-09, which was in turn the result of the collapsing housing bubble in the United States.
400
What word did Benjamin Franklin purposefully misspell on currency to detect counterfeiters?
1.colonies
2.Pennsylvania
3.America
4.dollar
2. Benjamin Franklin purposefully misspelled “Pennsylvania” on currency, believing that counterfeiters would correct the error in their forgeries.
400
The liabilities of a commercial bank include:
1.loans.
2.demand deposits.
3.net worth.
4.shares of stock.
2. Since liabilities refer to the debts that need to be paid, demand deposits are the funds that the banks need to return to the depositors. Thus, it is the banks' liabilities.
400
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway .
500
What is the slogan for Global Money Week?
1.Learn.Save.Earn.
2.Save money. It is equitable.
3.Earn. save. Spend.
Learn.Save.Earn. Every child needs to learn practically how to save and earn money in simple ways. This creates a basis for good money management habits.
500
The 2001 event that led to the bankruptcy of a U.S. energy company and resulted in the dissolution of Arthur Anderson—one of the top five U.S. accounting firms—was:
1.The Madoff Scandal
2.The Dot-Com Scandal
3.The Watergate Scandal
4.The Enron Scandal
4!The Enron scandal led to the collapse of the Houston, Texas, based Enron Corporation and caused millions of dollars of losses to Enron’s long-time employees whose retirement portfolios were tied to the company stock.
500
What company introduced the magnetic strip on credit cards?
1.Oracle
2.Cisco
3.IBM
4.Visa
We have IBM to thank for the magnetic stripe on credit cards, which was introduced in the 1960s to contain account information. Because of the stripe, merchants no longer needed to make phone calls to obtain authorization from credit companies.
500
What is the principle on a loan?
1.The interest paid
2.The interest unpaid
3.The total amount paid
4.The initial amount loaned
4. A loan principal is the original amount of money borrowed via a loan. The loan will generate interest, and this will be added to the original amount. This is the basic way interest and loan repayment works, allowing borrowers to get the money they need and lenders to make a profit on the loans they offer.
500
* "giant economist"
*founder of modern macroeconomics
John Maynard Keynes.
He founded the Keynesian economics school of thought, earning him the respect of being dubbed the "father of macroeconomics".