Econ Final

There are 3 functions of money medium of exchange, unit of account, and ________.

• demand deposits

• interest rates

• store of value

• liquity

Who fought for a national bank?

• Alexander Hamilton

• Thomas Jefferson

• Snoop Dogg

• Roy Rogers

Anything that is used to determine value during the exchange of goods and services

• UNIT OF ACCOUNT

• BANK RUN

• FDIC

• MEDIUM OF EXCHANGE

What is the most used form of electronic banking?

• ATMs

• Federal Reserve Notes

• Gold Standard

• Cash App

Something that keeps its value if it is stored rather than used

• store of value

• member bank

• demand deposit

• currency

The nation's central banking system

• Gold Standard

• Federal Reserve System

• FDIC

• National Bank

The direct exchange of one set of goods or services for another is bartering.

• True

• False

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

• fiat money

• interest

• principal

• gold

A card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services

• debit card

• cash app card

• ATM

• credit card

Person or institution to whom money is owed

• creditor

• Alexander Hamilton

• banker

• principal