2set Flashcards
(24 cards)
what which of the following is an example of money as a unit of account
opening a savings account at a bank
Which of the following is an example of a barter system
Instead of paying grant you clean the house for the owner
Which of the following is the main disadvantage of using shells of money instead of coins
Uniformity
Which of the following is an example of representative money
And IOU note
Which is the purpose of the FDIC
To make sure the customers do not lose money at the bank fails
What are the Federalist believe it about banking
They believe that essentialize banking system was necessary
What occurred during the freethinking error
Currency varied widely from state to state
What were greenbacks
Currencies by the Confederacy during Civil War
What is the Mortage used to purchase
Real estate
Why is using quoins is money easier than using gold bars
Coins are more portable
What happens in the bank run
More customers withdraw money than the bank has on hand
What condition is necessary for a Fiat money system to work
To Gerrmann must control the money supply
What happens when you make a purchase using the credit card
Them out of purchases deducted from prepared account
What is the largest source of income for banks
The interest they are safe from Loans
You need a new computer and you will need to learn to order to buy one. Which lenders most likely change the highest interest rate on your loan.
Finance company
Near many including
Demand deposits and other checkable deposit
When you pay for a new CD with the debit card, you authorize the transfer money from your account to the music store account. In other words, the payment by debit card is a electronic form of a payment bye
Check
Which of the following statements is true
all of the above
In the 1800s, people and mining towns of the West often pay for goods without nuggets are Golddust. What was the function of gold?
It was used as a currency
In the 1900s, the Russian people lost confidence in the value of the rubble, and many were no longer willing to sell goods and services and exchange for Russian currency. Which characteristics of money the Russian currency lack
Assessability
American leaders in the early nine states wanted to establish a stable banking system in order to
Promote international trade and economic growth
What is one reason why many people distress distrusted banking system Danafir banking era of the first half of the 1800s
Many banks do not have enough gold or silver to back the paper money they issue
How did the United States government make the American public Confidence and nations currency and 1870s
Government adopted the gold standard
Ambard $18,000 to buy a car.
Will be paid off in five years. The time that she pays off the loan, she will have made $20,000 to him 27 and payments. Why did she leave to pay $20,327 and that they had 2,327 more than the price of the car
She had to pay interest of two that 2327 for the privilege of borrowing
the principle of 18,000
