Money Fundamentals (SS.912.E.1.13)
This is the primary function that allows money to be used to buy goods and services.
What is a medium of exchange?
A new worker should typically open ta savings account at this type of institution.
What is a savings account at a bank or credit union?
Borrowers should compare this factor when shopping for a loan.
What is the interest rate?
Grocery shopping and dining out are examples of this type of expense that fluctuates.
What is a variable expense?
This institution serves as the central bank of the United States.
What is the Federal Reserve?
This characteristic of money allows people to save purchasing power for future use.
What is a store of value?
These institutions commonly provide savings, checking, and loan services.
What are banks and credit unions?
higher returns usually come with more of this.
What is risk?
A person who frequently misses loan payments is likely to have a low version of this.
What is a credit score?
One major responsibility of the Federal Reserve is conducting this type of policy.
What is monetary policy?
The Federal Reserve measures this collection of cash and money held in accounts.
What is the money supply?
Compared to savings accounts, these generally involve higher risk but potentially higher returns.
What are investment accounts?
This is a type of low-risk investment, not a 2000s music player.
What are Certificates of Deposit (CDs)?
Before taking out a car loan, a person should first analyze this financial plan.
What is a budget?
The Federal Reserve works to manage this economic problem when prices rise too rapidly.
What is inflation?
Cash in circulation and money in checking and savings accounts are part of this specific measure
What is the money supply- M2?
Using another bank's ATM may result in paying this type of fee
What is an ATM fee?
This is essentially a loan to the government that is a safe investment.
What is a bond?
Saving money for a down payment helps reduce these monthly costs.
What are loan payments?
This part of the Federal Reserve gather economic information and support monetary policy are part of this system.
What is NOT measured by the Federal Reserve and therefore NOT part of the money supply?
What is cryptocurrency (such as Bitcoin)?
This service allows customers to pay bills electronically and often automatically.
What is online bill payment?
This strategy reduces risk by spreading money among different investments.
What is diversification?
This financial measure helps lenders determine how risky a borrower may be
What is a credit score/history?
The Federal Reserve is most likely to act as a lender of last resort when banks run low onthis.
What is currency and coin?