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6 Written questions

6 Multiple choice questions

  1. a card entitling its owner to buy goods and services based on the owner's promise to pay for the use of borrowed money
  2. a card used to withdraw money from a bank account
  3. all the money available in the US economy
  4. objects that have value in and of themselves and are also used as money
  5. a banking system that keeps only a fraction of its funds on hand and lends out the remainder
  6. coins and paper bills used as money

6 True/False questions

  1. principala person or institution to whom money is owed

          

  2. liquiditythe ability to be used, or directly converted to cash

          

  3. mortgagethe direct exchange of one set of goods or services for another

          

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

          

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

          

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

          

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