Banking History ECR

Front

What was wrong with banks issuing their own currency?

Back

easy for counterfeiters, unrecognizable, and too many notes were issued.

Front

A U. S. corporation insuring deposits in the US against banking failure for up to $250,000

Back

FDIC

Front

"The Fed" refers to the....

Back

Federal Reserve System

Front

The Federal Reserve was established in

Back

1913

Front

The central bank of the United States.

Back

the Federal Reserve System

Front

Piece of paper issued by bank that promises to pay holder a certain sum.

Back

bank notes

Front

Bank controlled by the state rather than individuals or corporations.

Back

state-chartered bank

Front

Government, businesses, and individuals in the United States all accept US currency because:

Back

They have confidence in the government

Front

Which is NOT a type of money? Commodity Money, Representative Money, Fiat Money, Legal Money

Back

Legal Money

Front

A Barter Economy is an economy based on trade.

Back

True