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6 Written questions

6 Multiple choice questions

  1. the ability to be used, or directly converted to cash
  2. the direct exchange of one set of goods or services for another
  3. objects that have value because a government has decreed that they are acceptable means to pay debts
  4. coins and paper bills used as money
  5. the amount of money borrowed
  6. a banking system that keeps only a fraction of its funds on hand and lends out the remainder

6 True/False questions

  1. debit carda card entitling its owner to buy goods and services based on the owner's promise to pay for the use of borrowed money

          

  2. foreclosurea specific type of loan that is used to buy real estate

          

  3. medium of exchangea specific type of loan that is used to buy real estate

          

  4. interestthe direct exchange of one set of goods or services for another

          

  5. defaultthe direct exchange of one set of goods or services for another

          

  6. credit carda card used to withdraw money from a bank account

          

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