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6 Written questions

6 Multiple choice questions

  1. the amount of money borrowed
  2. a card entitling its owner to buy goods and services based on the owner's promise to pay for the use of borrowed money
  3. the ability to be used, or directly converted to cash
  4. all the money available in the US economy
  5. anything that is used to determine value during the exchange of goods and services
  6. a card used to withdraw money from a bank account

6 True/False questions

  1. flat moneyanything that serves as a medium of exchange, a unit of account, and a store of value

          

  2. fractional reserve bankingthe seizure of property from lenders who are unable to pay back their loans

          

  3. representative moneyobjects that have value because the holder can exchange them for something else of value

          

  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. commodity moneyobjects that have value in and of themselves and are also used as money

          

  6. currencyanything that serves as a medium of exchange, a unit of account, and a store of value

          

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