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Personal Finance- Unit 2: World & Local Economics Review Flashcards | StudBud
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Personal Finance- Unit 2: World & Local Economics Review
Personal Finance- Unit 2: World & Local Economics Review
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1
Who is Canada’s sole bank note-issuing authority and also known as Canada's "central bank"?
BOC
World Bank
Federal Reserve
RBC
2
______ formally took over control of banking
Taxation Act
Bank of Canada
Prime Minister Sir John A. MacDonald
British North America Act 1867
3
Who is the current governor of the BOC?
Tiff Macklem
Graham Towers
Stephen Poloz
Jerome Powell
4
Which city is the Federal Reserve in?
Ottawa
Toronto
New York
Washington, DC
5
What is the purpose of both the World Bank and IMF?
promote productivity
promote stability
protect the world from disaster
provide help to poorer countries
6
_____________ is concerned with how much money circulates in the economy & what money is worth.
monetary policy
credit union
federal reserve
world bank
7
Who was the first governor of the BOC?
Stephen Poloz
Graham Towers
Steve Carney
Mark Carney
8
Bear Stearns dealt in ______ and this was the 1st downfall in the U.S. Meltdown.
credit default swaps
systemic risk
mortgage contagion
capital injection
9
What is NOT in the copper box?
Bylaws of the Bank
Constitutional Act
1937 Canadian coins
Bank of Canada Act
10
What was the name of Canada's first formal bank?
Royal Bank of Canada
National Bank of Canada
Bank of Montreal
Bank of Kingston
11
____________ is the "gatekeeper" of the U.S. economy
BOC
World Bank
Federal Reserve
IMF
12
Firefighters, teachers are part of a ________ that can open up accounts at _______
trade, stores
union, credit union
union, stores
union, banks
13
The interconnection or "web" is known as ____________________ (in U.S. Meltdown)
systemic risk
moral hazard
credit default swaps
congressional power
14
Where is the BOC located?
234 Wellington St.
24 Sussex Avenue
259 Sussex Avenue
167 Wellington St.
15
The top 5 banks are known as ________________ or _____________________.
Big Banks, Controllers
Fabulous Five, Flagship
Big Five, Commandership
Big Five, Flagship
16
“______regulates finan. institutions, manages nation’s $ & moves interest rates & creating $.”
World Bank
IMF
BOC
Federal Reserve
17
What does CDIC stand for?
Canada Deposit Insurance Corp.
Central Deposit Insurance Company
Canada Dependent Interest Calculation
Central Department Interest Corp.
18
What is the #1 and #2 bank in Canada?
TD, RBC
RBC, CIBC
RBC, TD
BMO, RBC
19
What does IMF stand for?
International Monetary Foundation
International Money Firm
Intervention Monument Firm
International Monetary Fund
20
What is the biggest revenue source for our government?
Crown Corporation Taxes
Personal Income Tax
GST taxes
Corporate Income Tax
21
Ben Bernanke and Henry Paulson were compared to ___________ in the U.S. Meltdown movie.
lawyers
superstars
doctors
economists
22
What does FCAC stand for?
Financial Consumer Agency of Canada
Federal Canada Agency of Canada
Federal Consumer Aggregate of Canadians
Financial Canadian Agency of Consumers
23
What is the “largest single federal spending item”?
bank loans
other direct program expenses
infrastructure payments
transfer payments
24
Which system brings "infrastructure" to developing countries?e.g.Ethiopia-set electricity plant
IMF
World Bank
Federal Reserve
BOC
25
The BOC has 4 main areas of responsibility.. currency, funds management, monetary policy and __
taxes
interest rates
banking
financial system
26
Which system promotes the economic development of world's poorer countries?
Federal Reserve
BOC
IMF
World Bank
27
Which system gives loans for "structural adjustment"? e.g. the price of wheat fluctuates
BOC
World Bank
IMF
Federal Reserve