NAME

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of 18 available terms

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6 Written questions

6 Multiple choice questions

  1. a person or institution to whom money is owed
  2. failing to pay back a loan
  3. a card used to withdraw money from a bank account
  4. the price paid for the use of borrowed money
  5. objects that have value because the holder can exchange them for something else of value
  6. a specific type of loan that is used to buy real estate

6 True/False questions

  1. currencycoins and paper bills used as money

          

  2. fractional reserve bankinga banking system that keeps only a fraction of its funds on hand and lends out the remainder

          

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

          

  4. foreclosurea person or institution to whom money is owed

          

  5. barteranything that serves as a medium of exchange, a unit of account, and a store of value

          

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