Unit 5: Money and Banking Review
Quiz by Megan Nieman
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- Q1
This allows you to withdraw money directly from your checking account
Debit Card
30s - Q2
The government gives this its value and has deemed it acceptable as a form of payment.
Fiat Money
30s - Q3
Objects that have value in their own right
Commodity Money
30s - Q4
Functions of Money
Medium of Exchange, Unit of Account, Store of Value
30s - Q5
Characteristics of Money
Acceptability, Divisibility, Portability, Limited Supply, Durability, Uniformity
30s - Q6
This is a monetary system where paper money and coins are equal to the value of one ounce of this.
Gold Standard
30s - Q7
The current central banking system in the United States
Federal Reserve
30s - Q8
The FIRST central banking system in the United States
Bank of the United States
30s - Q9
Services provided by banks
Storing money, saving money, loans, mortgages, credit cards
30s - Q10
This entitles its holder to buy things as long as they promise to pay for what they buy
Credit card
30s - Q11
This agency insures your money in the event that a bank might fail.
F.D.I.C.
30s