Quick Review Chapter 15

The study of money: how it's managed by individuals, companies, and governments is known as ______.

• finance

• banking

• accounting

• exchange

The trading of goods and services for other goods and services is called ______.

• bartering

• finance

• fiat trading

• accounting

The rate of interest the Fed charges to loan money to any banking institution to meet reserve requirements is called the ______ rate.

• prime

• reserve

• discount

• fiat

Anything that can be used for payment of goods and services is defined as ______.

• trade

• barter

• money

• finance

A(n) ______ is similar to a mutual fund but the assets in the fund duplicate a stock market index.

• ETF

• FDIC

• SEC

• S&L

Inflation primarily disrupts the _____ principle of money.

• durability

• stability

• acceptability

• divisibility

The characteristic of money that relates to it having a long useful life is:

• acceptability

• stability

• portability

• durability

A checking account is also called a(n) _____.

• paper account

• interest account

• certificate of deposit

• demand deposit

The _____ is the primary economic policy arm of the United States.

• Federal Reserve Board

• American Banking Association

• Federal Deposit Insurance Corporation

• U.S. Treasury Department

_____ by the Fed can determine how large a down payment businesses must make on credit purchases of expensive machinery.

• Reserve Requirements

• Open Market Operations

• Credit Controls

• Discount rate controls