Role of Money Review

Anything that serves as a medium of exchange, a unit of account, and a store of value

• Money
• Unit of Account
• Goods
• Services

the direct exchange of one set of goods or services for another

• Store of Value
• Currency Exchange
• Medium of Exchange
• Barter System

Anything that is used to determine value during the exchange of goods and services (What you physically exchange)

• Medium of Exchange
• Unit of Account
• Store of Value
• Ability of Division

The primary role of the Federal Reserve Bank is to steer the economy by

• controlling the budget
• setting spending levels.
• controlling the money supply.
• loaning out money.

The Federal Reserve...

• Regulates the amount of money.

• Supervises Banks.

• Provides Financial Services.

• All of the above.

The American Dollar bill is an example of

• Commodity Currency
• Representative Currency
• Fiat Currency
• Public Currency

"The Fed" refers to the....

• Federal Bureau of Investigation
• Federal Government
• Federal Reserve System
• Federal Income Tax

The Federal Reserve System was established in

• 1799
• 1913
• 1863
• 1881

Fee charged to borrow money

• Inflation
• Interest
• Discount rate
• Reserve requirement

The central bank of the United States is the:

• Federal Reserve Banking System.
• Comptroller's Bank.
• United States National Bank.
• U.S. Treasury Bank.