#1
Which country uses the Euro as its official currency?
France
ExplanationFrance is a member of the Eurozone and adopted the Euro as its official currency.
#2
What is the currency of Japan?
Yen
ExplanationThe currency of Japan is the Yen.
#3
What is the currency of Australia?
Dollar
ExplanationThe currency of Australia is the Australian Dollar.
#4
Which country's currency is the Canadian Dollar?
Canada
ExplanationThe Canadian Dollar is the official currency of Canada.
#5
Which country uses the South African Rand as its official currency?
South Africa
ExplanationSouth Africa uses the South African Rand as its official currency.
#6
Which currency is used in India?
Rupee
ExplanationThe currency used in India is the Indian Rupee.
#7
What is the currency of Russia?
Ruble
ExplanationThe currency of Russia is the Russian Ruble.
#8
Who issues the US dollar bills?
Federal Reserve System
ExplanationThe Federal Reserve System, the central banking system of the United States, issues US dollar bills.
#9
Who coined the term 'Quantitative Easing'?
Ben Bernanke
ExplanationBen Bernanke, former chairman of the Federal Reserve, coined the term 'Quantitative Easing'.
#10
Which of the following is not a function of money?
Unit of credit
ExplanationWhile money serves as a medium of exchange, store of value, and unit of account, it is not a unit of credit.
#11
Who is featured on the current US $100 bill?
Benjamin Franklin
ExplanationBenjamin Franklin, one of the Founding Fathers of the United States, is featured on the current US $100 bill.
#12
Which of the following is a cryptocurrency?
Bitcoin
ExplanationBitcoin is a decentralized digital currency, commonly referred to as a cryptocurrency.
#13
Who is known as the 'Father of Economics'?
Adam Smith
ExplanationAdam Smith, a Scottish economist, is often referred to as the 'Father of Economics' for his pioneering work in the field of economics.
#14
What is the official currency of Switzerland?
Franc
ExplanationThe official currency of Switzerland is the Swiss Franc.
#15
Who was the first woman to appear on a United States banknote?
Harriet Tubman
ExplanationHarriet Tubman, an American abolitionist, was the first woman to appear on a United States banknote.
#16
What is the currency of Brazil?
Real
ExplanationThe currency of Brazil is the Brazilian Real.
#17
Who is the current chairperson of the Federal Reserve Board?
Jerome Powell
ExplanationJerome Powell is the current chairperson of the Federal Reserve Board.
#18
Which economist is associated with the concept of 'invisible hand'?
Adam Smith
ExplanationAdam Smith, in his book 'The Wealth of Nations', introduced the concept of the 'invisible hand' as a metaphor for self-regulating mechanisms in the market economy.
#19
Which of the following countries is part of the Eurozone?
Spain
ExplanationSpain is one of the member countries of the Eurozone, using the Euro as its official currency.
#20
What was the first paper currency in the world?
Sumerian shekel
ExplanationThe Sumerian shekel is considered the first known paper currency in the world.
#21
Who controls the issuance of the Chinese Yuan (Renminbi)?
People's Bank of China
ExplanationThe People's Bank of China controls the issuance of the Chinese Yuan (Renminbi).
#22
Which of the following is NOT a characteristic of fiat money?
Intrinsically valuable
ExplanationFiat money is not intrinsically valuable, unlike commodity money; its value is derived from government decree.
#23
Who issues the Euro banknotes?
European Central Bank
ExplanationThe European Central Bank issues Euro banknotes.
#24
Which of the following is not a component of the M1 money supply?
Savings deposits
ExplanationSavings deposits are not considered part of the M1 money supply; M1 includes currency, demand deposits, and other liquid assets.
#25
Which country introduced the first polymer banknotes?
Australia
ExplanationAustralia was the first country to introduce polymer banknotes, in 1988.