Economics Unit 4 CH. 10-11

What other word can you use for the term barter?

• trade

• fiat

• specie

• monetary

Which of the following is a basic characteristic of money?

• portability

• durability

• divisibility

• all of the above

Which of the following is one of the three functions of money?

• portability

• scarcity

• store of value

• divisibility

What is the definition of legal tender?

• counterfeit currency

• currency backed by government bonds

• paper currency

• currency that must be accepted for payment by decree of the fovernment

The federal reserve is also know as the nation's (blank) bank?

• only

• first

• oldest

• central

(blank) is a bank that can lend to other banks in times of need, or a banker's bank.

• state bank

• national bank

• central bank

True or False: certificates of deposit are actually not deposits, but loans from consumers to banks.

• true

• false

Because of technological developments, the banking industry is steadily moving toward (blank) banking.

• demand

• electronic

• creditworthy

• reserve

What will your personal credit score be based on?

• your credit history

• keeping up with on time payments

• all of the above

What is the privately owned, publicly controlled, central bank of the United States?

• central bank

• FDIC

• Federal Reserve System

• national bank