Money
Banks
100
Commodity money used by colonists in Virginia.
What is tobacco
100
Used to back up money
What is gold
200
A seller accepting money for a service
What is medium exchange
200
Each bank had its own form
What is currency
300
Of all forms of money this was least durable
What is compressed cheese of early Russians
300
Anybody could copy or make their own currency and pass it off, thus leading to the mistrust of money
What is the problem of banks printing their own money
400
Known as paper currency backed by gold placed on a deposit with the United States
What is gold certificate
400
Provides the assurance that the number of banks will remain constant
What is The Federal Deposit Insurance Corporation
500
Crrency that must be accepted in payment for debts
What is legal tender
500
When the Fed expands the money supply
What is decreased interest rates
M
e
n
u