What is the primary goal of including this paragraph in FDIC press releases?

To educate and instill public confidence?

Assume that you inherited 5,000 dollars. Would you spend it or deposit it in a savings or checking account? Would you buy a CD or investigate other investment possibilities?

How does the system of reserve requirements expand bank deposits?

Why did money replace the barter syste?

In the section titled "Characteristics of Money," are the four characteristics of money in any particular order? Does the order suggest that some characteristics are more important than others?

Explain what a state-chartered bank is.

How can commodity money provide a measure of value?

Based on the author's description of legal tender, do you think coins and paper bills of today are considered legal tender? Why or why not ?

Why do you think adopting polymer currency appeals to the governments of developing countries?

Based on the text and Figure 10.2, explain this statement: "With a 20 percent reserve requirement, a $\$ 1,000$ cash deposit will result in a fivefold expansion of the money supply."

What evidence does the author provide to support the section's premise that a bank's primary activity is lending money?

It requires that penalty fees be reasonable and proportional to the cost of the violation. It requires that any interest rate increases on new purchases be reviewed every 6 months so that consumers can return to a previous rate if conditions change. It also protects consumers who have temporarily fallen on hard times by requiring 60 days before penalty interest rates can be imposed.

It shields young people from taking on more debt than they can handle by limiting prescreened offers to young consumers. It also gives consumers more access to the information they need to make wise financial decisions, such as requiring full disclosure about due dates, penalties, and changes in terms.

Based on Reid's speech, what potentially unfair credit card practices were banks permitted to engage in prior to the passage of the Credit CARD Act?

How has money evolved to meet the needs of people everywhere ?

What are the requirements needed for something to be used as money ?