Create an account
unit of accounting
use of money as a yardstick for comparing the values of goods and services in relation to one another
a medium of exchange such as cattle or gems that has value as a commodity or good aside from its value as money
money that has value because a government fiat, or order, has established it as acceptable for payment of debts
checking account that allows a customer to write a check for more money that exists in his or her account
electronic funds transfer (EFT)
system of putting onto computers all the banking functions that in the past we handled on paper
automated teller machines (ATMs)
units that allow consumers to do their banking without the help of a teller
money deposited in a bank that can be withdrawn at any time by presenting a check
mutual savings banks, S&Ls, and credit unions that offer many of the same services as commercial banks
device used to make cashless purchases; money is electronically withdrawn from the consumer's checkable account and transferred directly to the store's bank account
assets, such as savings accounts, that can be turned into money relatively easily and without the risk of loss of value
narrowest definition of the money supply; consists of moneys that can be spent immediately and against which checks can be written
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