Ch. 10 Money and Banking

Front

_____ refers to a failure to pay back a loan.

Back

Default

Front

_____ refers to objects that have value in themselves and that are also used as money.

Back

Commodity money

Front

Anything that is used to determine value during an exchange of goods and services is known as a(n) _____.

Back

medium of exchange

Front

_____ refers to the price paid for the use of borrowed money.

Back

interest

Front

_____ refers to the amount of money borrowed.

Back

principal

Front

_____ refers to the direct exchange of one set of goods or services for another.

Back

barter

Front

A(n) _____ is a specific type of loan that is used to buy real estate.

Back

mortgage

Front

A(n) _____ is a bank that can lend money to other banks in times of need.

Back

central bank

Front

A(n) _____ is a widespread panic in which great numbers of people try to redeem their paper money.

Back

bank run

Front

A(n) _____ is a bank that belongs to the Federal Reserve System.

Back

member bank