US Dollar MCQs January 8, 2026August 21, 2024 by u930973931_answers 50 min Score: 0 Attempted: 0/50 Subscribe 1. What is the official currency of the United States? (A) US Dollar (B) Euro (C) British Pound (D) Canadian Dollar 2. What is the symbol for the US Dollar? (A) $ (B) € (C) £ (D) ¥ 3. Which institution is responsible for issuing US Dollars? (A) Bank of Canada (B) European Central Bank (C) Bank of England (D) Federal Reserve 4. When was the US Dollar first adopted as the official currency? (A) 1776 (B) 1785 (C) 1792 (D) 1800 5. What act established the US Dollar as the official currency? (A) Federal Reserve Act (B) Coinage Act of 1792 (C) Banking Act of 1933 (D) Gold Standard Act 6. Which president is featured on the $1 bill? (A) Abraham Lincoln (B) George Washington (C) Thomas Jefferson (D) Andrew Jackson 7. Which president is featured on the $5 bill? (A) Ulysses S. Grant (B) Abraham Lincoln (C) George Washington (D) Andrew Jackson 8. Which president is featured on the $10 bill? (A) Abraham Lincoln (B) Andrew Jackson (C) Alexander Hamilton (D) George Washington 9. Which president is featured on the $20 bill? (A) Abraham Lincoln (B) Thomas Jefferson (C) George Washington (D) Andrew Jackson 10. Which president is featured on the $50 bill? (A) Abraham Lincoln (B) Ulysses S. Grant (C) Benjamin Franklin (D) George Washington 11. Which president is featured on the $100 bill? (A) Abraham Lincoln (B) Benjamin Franklin (C) George Washington (D) Alexander Hamilton 12. Which of the following is NOT a denomination of US paper currency? (A) $2 (B) $5 (C) $10 (D) $1000 13. What is the largest denomination of US currency ever issued? (A) $100000 (B) $5000 (C) $10000 (D) $1000 14. Which US currency note features the Lincoln Memorial? (A) $1 bill (B) $5 bill (C) $10 bill (D) $50 bill 15. What is the value of a “greenback”? (A) $5 (B) $1 (C) $10 (D) $100 16. What material is primarily used to make US paper currency? (A) Paper (B) Cotton and linen (C) Plastic (D) Silk 17. Which security feature is used on US currency to prevent counterfeiting? (A) Watermark (B) All of the above (C) Microprinting (D) Hologram 18. Which federal agency is responsible for investigating counterfeit currency? (A) Federal Bureau of Investigation (FBI) (B) Secret Service (C) Bureau of Engraving and Printing (D) Federal Reserve 19. When did the US stop using silver certificates for currency? (A) 1933 (B) 1964 (C) 1971 (D) 1980 20. What is the US Dollar often abbreviated as? (A) US$ (B) USD (C) U$ (D) D$ 21. Which currency is considered the world’s primary reserve currency? (A) US Dollar (B) Japanese Yen (C) Euro (D) British Pound 22. Which US city is home to the Federal Reserve Bank of New York? (A) New York City (B) Washington, D.C. (C) Chicago (D) San Francisco 23. What was the US Dollar’s value pegged to under the Bretton Woods system? (A) Gold (B) Silver (C) Euro (D) Japanese Yen 24. Which US President signed the Gold Standard Act of 1900? (A) Theodore Roosevelt (B) Woodrow Wilson (C) Franklin D. Roosevelt (D) William McKinley 25. Which event in 1971 led to the end of the US Dollar’s convertibility into gold? (A) The Great Depression (B) The Nixon Shock (C) The Bretton Woods Conference (D) The Federal Reserve Act 26. What is the term for US Dollars in circulation that are held by the public? (A) Base Money (B) M1 (C) M0 (D) M2 27. What does the term “fiat currency” refer to? (A) Currency backed by physical assets (B) Currency with intrinsic value (C) Currency that is convertible into precious metals (D) Currency that derives its value from government regulation or law 28. Which US banknote design was updated to feature a security thread? (A) $1 bill (B) $5 bill (C) $10 bill (D) $20 bill 29. What is the term for the value of the US Dollar relative to other currencies? (A) Exchange Rate (B) Interest Rate (C) Inflation Rate (D) Reserve Ratio 30. Which US Dollar denomination is being redesigned to feature women in history? (A) $1 bill (B) $5 bill (C) $20 bill (D) $10 bill 31. What is the purpose of the Federal Reserve System? (A) To provide public services (B) To conduct foreign policy (C) To regulate trade (D) To issue currency and manage inflation 32. What does the term “Dollarization” refer to? (A) The process of a country adopting the US Dollar as its official currency (B) The act of printing more US Dollars (C) The process of exchanging US Dollars for other currencies (D) The devaluation of the US Dollar 33. Which country adopted the US Dollar as its official currency after World War II? (A) Panama (B) Zimbabwe (C) Ecuador (D) El Salvador 34. Which denomination of US Dollar is not currently in circulation? (A) $10,000 bill (B) $2 bill (C) $100,000 bill (D) $1,000 bill 35. What is the term for the US Dollar being used as a global benchmark for financial transactions? (A) Reserve Currency (B) Trading Currency (C) Exchange Currency (D) Transaction Currency 36. What feature on the $100 bill is used to change colors? (A) Security Thread (B) Watermark (C) Color-Shifting Ink (D) Microprinting 37. In which year did the US Dollar become the world’s primary reserve currency? (A) 1944 (B) 1950 (C) 1971 (D) 1980 38. What term is used to describe the US Dollar’s value compared to other currencies? (A) Currency Rate (B) Currency Index (C) Value Ratio (D) Exchange Rate 39. Which US President’s portrait appears on the $50 bill? (A) Abraham Lincoln (B) Ulysses S. Grant (C) Benjamin Franklin (D) George Washington 40. Which US currency note includes a security feature called a “security thread”? (A) $1 bill (B) $5 bill (C) $10 bill (D) $20 bill 41. Which of the following is NOT a feature of the new $100 bill design? (A) Holographic star (B) Portrait watermark (C) Raised printing (D) Blue security ribbon 42. Which country’s currency is often compared with the US Dollar for global trade? (A) Australian Dollar (B) British Pound (C) Japanese Yen (D) Euro 43. Which US currency note depicts the Independence Hall? (A) $1 bill (B) $5 bill (C) $2 bill (D) $10 bill 44. In what year did the Federal Reserve begin operations? (A) 1900 (B) 1933 (C) 1920 (D) 1913 45. What is the primary function of the Federal Reserve? (A) All of the above (B) To maintain price stability (C) To conduct monetary policy (D) To issue currency 46. What does the Federal Open Market Committee (FOMC) do? (A) Sets interest rates (B) All of the above (C) Conducts open market operations (D) Manages the money supply 47. What is the maximum amount of US currency in circulation at any given time? (A) There is no limit (B) Determined by the Federal Reserve (C) Limited to $1 trillion (D) Limited to $10 trillion 48. Which of the following factors can influence the value of the US Dollar? (A) Inflation (B) Interest rates (C) All of the above (D) Political stability 49. What is the term for the increase in the general price level of goods and services? (A) Deflation (B) Stagnation (C) Inflation (D) Depreciation 50. What is the purpose of the currency printing process? (A) To increase money supply (B) All of the above (C) To adjust for inflation (D) To replace damaged bills