Chapter 10 Money & Banking

_____________ is a bank that can lend money to other banks in times of crisis

• Congress

• Central Bank

• Department of the Interior

• National Bank

_____________ is money by government decree, has no alternative value

• Gold standard

• Specie

• Barter

• Fiat money

____________ is money in the form of gold or silver coins

• Fiat

• Shilling

• Specie

• Pence

____________ is the privately owned, publicly controlled central bank of the U.S.

• J.P. Morgan Chase

• Bank of America

• The Federal Reserve System (FED)

• Wells Fargo

_____________ are a paper currency issued by the FED

• Specie

• Federal Reserve Notes

• Disney bucks

• Shilling

___________ is a sudden rush by depositors to withdraw their deposited funds from banks.

• bank run

• demand deposit

• electronic funds transfer

• fiat

__________ is a U.S. government institution that provides insurance on depositor's accounts

• Congress

• Department of the Interior

• FDIC

• Department of Homeland Security

__________ is a brief period during which all banks are closed to prevent bank runs

• Vacation

• Fiat

• National Holiday

• Bank holiday

____________ a system in which currency could be exchanged for a certain amount of gold.

• Legal tender

• Gold Standard

• FDIC

• Specie

__________ is a currency that must be accepted for payment by decree of government

• Barter

• Fiat

• Legal tender

• Specie