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6 Written questions

6 Multiple choice questions

  1. the seizure of property from lenders who are unable to pay back their loans
  2. a banking system that keeps only a fraction of its funds on hand and lends out the remainder
  3. a card entitling its owner to buy goods and services based on the owner's promise to pay for the use of borrowed money
  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. 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

          

  2. mortgagea specific type of loan that is used to buy real estate

          

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

          

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

          

  5. interestthe direct exchange of one set of goods or services for another

          

  6. liquiditya person or institution to whom money is owed