Money

Our central bank is also known as the

• Federal Reserve

• Fractional Reserve Banking

• Monetary Policy

• Fiscal Policy

Paper currency issued by the Fed that replaced all other types of federal currency is also officially known as

• National paper finance

• Federal Reserve Notes

• U.S. minted coins

• Federal Primary Notes

What is inflation?

• rise in all prices
• rise in most prices
• rise in some prices
• rise in general prices

Who is most likely to be hurt by inflation?

• someone who borrowed money
• a retiree on a fixed income
• a business owner
• the U.S. government

What is the stock market?

• A type of farmers market where people buy and sell food.
• A place where parts of businesses are bought and sold.
• A special type of grocery store that sells stocks.
• A type of bank that gives out loans to new businesses.

Money in the United States is which type of money?

• fiat money

• representative money

• commodity money

• speculative money

_____________ 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 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

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

• bank run

• demand deposit

• electronic funds transfer

• fiat