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3 Written questions

3 Multiple choice questions

  1. Exchanging goods and services for other goods and services without the use of money
  2. Seven people appointed by President for a 14 year terms who are responsible for running the Federal Reserve System as a whole
  3. The total amount of money available for use as a medium of exchange

3 True/False questions

  1. Demand DepositThe money in a checking deposit


  2. Fractional Reserve BankingThe central bank of the US, which provides services to banks, regulates their activities, and controls the nation's monetary policy


  3. RecessionAn amount of money borrowed for a certain time period


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