5 Written Questions

1. a means for comparing the values of goods and servces
2. widespread panic in which numbers of people try to redeem their paper money
3. a specific type of loan that is used to buy real estate
4. the nation's central banking system
5. a fund that pools money from small savers to purchase short-term government and corporate securities.

5 Matching Questions

1. Greenback
2. Store of value
3. Member bank
4. Federal Reserve Note
5. Commodity Money

1. a paper currency during the civil war.
2. b bank that belongs to the federal reserve system.
3. c something that keeps its value it it is stored rather than used
4. d the national currency we use today in the United States.
5. e objects that have value in themselves and that are also used as money.

5 Multiple Choice Questions

1. the severe economic decline that began in 1929 and lasted for more than a decade.
   1. Fiat Money
   2. Interest
   3. Demand deposit
   4. Great Depression
2. failure to pay a loan
   1. Interest
   2. bank
   3. Default
   4. Barter
3. the money in checking accounts.
   1. Interest
   2. Great Depression
   3. Demand deposit
   4. Default
4. a card entitling its owner to buy goods and services based on the holder's promise to pay for these goods and services.
   1. Greenback
   2. Gold standard
   3. Central Bank
   4. Credit card
5. a banking system that keeps only a fraction of the funds on hand and lends out the remainder.
   1. National bank
   2. Fractional reserve banking
   3. Federal Reserve System
   4. Federal Reserve Note

5 True/False Questions

1. Interest → the direct exchange of one set of goods and services for another

   True        False

2. Gold standard → a card entitling its owner to buy goods and services based on the holder's promise to pay for these goods and services.

   True        False

3. Fiat Money → money that has value because the government has ordered it is an acceptable means to pay debts

   True        False

4. bank → an institution for receiving, keeping, and lending money

   True        False

5. Money supply → Anything that serves as a medium of exchange, a unit of account, and a store of value.

   True        False