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6 Written questions

6 Multiple choice questions

  1. the amount of money borrowed
  2. a banking system that keeps only a fraction of its funds on hand and lends out the remainder
  3. the seizure of property from lenders who are unable to pay back their loans
  4. coins and paper bills used as money
  5. a specific type of loan that is used to buy real estate
  6. the ability to be used, or directly converted to cash

6 True/False questions

  1. representative moneyobjects that have value because a government has decreed that they are acceptable means to pay debts

          

  2. debit carda card entitling its owner to buy goods and services based on the owner's promise to pay for the use of borrowed money

          

  3. interestthe price paid for the use of borrowed money

          

  4. barterthe direct exchange of one set of goods or services for another

          

  5. medium of exchangea specific type of loan that is used to buy real estate

          

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