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5 Written questions

5 Matching questions

  1. specie
  2. currency
  3. mutual savings bank
  4. money supply
  5. check clearing
  1. a total amount of money circulatory at any given time in a nations economy
  2. b paper money and coins that are in circulation
  3. c money in the form of coins
  4. d a bank owned by depositors who shares in its profit
  5. e daily process of debiting and crediting banks reserve accounts and checking accounts

5 Multiple choice questions

  1. measure of the relative good/service
  2. interest rate changed by federal reserve for loans to member bank
  3. financial institution whose chief purpose is to accept savings/checking, deposits make loans to business and individual transfer money among business
  4. money system i/w an item can be exchanged for something else that is valued
  5. government method designed to reduce the economy money supply

5 True/False questions

  1. debit cardinterest rate for loans that banks charge to their most reliable customer


  2. defaultfailure to make payment on a loan


  3. fiat moneymoney not backed by gold silver or other item of value, but has worth due to government requirement to be a medium of exchange


  4. deregulationfailure to make payment on a loan


  5. pyramided reservessystem in which smaller bank deposit some of their reserve into larger banks and the larger banks deposit some of their reserves into largest bank


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