Money & the FED

A Medium of exchange, measure of value, and a store of Value are called what?

• Functions of money

• Your pay check

• Characteristics of money

• Types of money

Money that has value because the government says it does is called-

• representative money

• fiat money

• currency

• credit

What are interest rates?

• The unemployment rate

• How much the banks keep on hold

• The cost of borrowing money

• When prices rises

money being able to withstand wear and tear from use is an example of its 

• unifromity
• portability 
• divisibility
• durability

Money that can easily be divided into smaller units of value has the characteristic of 

• divisibility
• denominations
• exchange

Today, most of our money is issued by

• individual states
• the U.S. President
• The Federal Reserve System
• congress

money that has value because the government has ordered that is an acceptable means to pay debts

• commodity money 
• fiat money
• representative money

The central banking system of the U. S.

• currency
• The Federal Reserve System
• the Federal Deposit Insurance Corporation ( F.D.I.C.)

the price paid for the use of borrowed money

• monthly payment
• exchange rate
• interest
• opportunity cost

anything used as a medium of exchange, a unit of account, and a store of value

• money
• credit card
• debit card
• currency