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3 Written questions

3 Multiple choice questions

  1. The total amount of money available for use as a medium of exchange
  2. A system of banking whereby banks keep a percentage of checking and saving deposits in reserve, leaving the rest available for loans and investments
  3. The central bank of the US, which provides services to banks, regulates their activities, and controls the nation's monetary policy

3 True/False questions

  1. Board of GovernorsSeven people appointed by President for a 14 year terms who are responsible for running the Federal Reserve System as a whole


  2. BarteringThe coins and paper bills used as money in an economy


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