Create an account
A monetary system based on some item of value, for example, gold or precious stones.
The interest rate that the Federal Reserve sets and charges for loans to member banks.
Money that is deemed leagl tender by the government, and it is not based on or convertible into a commodity
A system in which goldsmiths needed to keep back, or reserve only a fraction of the total gold that had been deposited.
A Phenomenon in which new deposits go out to customers as loans and create more deposits, thus expanding the amount of money in the fractional-reserve system
Cash on hand, deposits that may be due from other banks, and the percentage required by the Federal Reserve System, either held in the vault or on deposit in the District Reserve Bank for the are
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