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of 18 available terms

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6 Written Questions

6 Multiple Choice Questions

  1. all the money available in the US economy
  2. objects that have value because the holder can exchange them for something else of value
  3. the seizure of property from lenders who are unable to pay back their loans
  4. coins and paper bills used as money
  5. the direct exchange of one set of goods or services for another
  6. a person or institution to whom money is owed

6 True/False Questions

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

          

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

          

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

          

  4. liquiditya person or institution to whom money is owed

          

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

          

  6. principala person or institution to whom money is owed

          

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