Money, Banking & the FED

A bank that can lend to other banks in times of need, otherwise called a "banker's bank."

• Corporation

• Central Bank

• Gold Standard

• Federal Reserve System

The discount rate is...

• The interest rate commercial banks charge their most reliable business customers

• The interest rate commercial banks charge entrepreneurs

• The interest rate the FED charges member banks

• The interest rate the FED charges private citizens

Which is a good synonym for the word "barter" in the term barter economy?

• Trade

• Fiat

• Specie

• Monetary

The exchange of goods and services without using money is called?

• Haggling

• Barter

• Free Exchange

• Debit Exchange

The United States government institution that provides deposit insurance on the depositor's account?

• Corporation

• Central Bank

• Federal Reserve System

• Federal Deposit Insurance Corporation (FDIC)

Tight money policy involves

• Charging banks higher interest rates

• Charging banks lower interest rates

• Requiring banks to make more loans

• Requiring banks to hire more workers

A system in which the basic unit of currency is equivalent to, and can be exchanged for, a specific amount of gold is called?

• Corporation

• Central Bank

• Gold Standard

• Federal Reserve System

The privately owned, publicly controlled, central bank of the United States is the?

• Corporation

• Central Bank

• Gold Standard

• Federal Reserve System

Which of the following is a basic characteristic of money?

• Portability

• Durability

• Divisibility

• all of the above

What will your “creditworthiness” be based on?

• Your credit history

• Keeping up with payments

• Having a good financial relationship with a bank

• All of the above