Non-Cash Forms of Money
Can only be used at a specific store, such as Target, Walmart, Starbucks, or Barnes & Noble
Gift Card
This characteristic of money means that it lasts over time.
Durability
The term that refers to US money being backed by people's faith and confidence in the US government
Fiat Money
Money you get before taxes/deductions are taken out
Gross Income
Type of income that refers to having a job and getting a paycheck.
Employment
This type of money allows you to buy now and pay later.
Credit Card
This characteristic of money means that it can be moved or easily from place to place
Term for the general increase in the price of goods and services
Inflation
Money you have after taxes/deductions are taken out
Net income
Income you could make from renting out a property you own
Rental income
Type of money that allows you to withdrawal funds directly from a checking account at a bank
Debit Card
Medium of exchange is a function of Money meaning that the use of money replaces what method of exchanging goods and services?
Barter
Term for the general decrease in the price of goods and services
Deflation
Type of tax that is deducted from your paycheck to pay for Social Security and Medicare.
FICA Tax
Income you could make from buying and selling stocks
Investments
Written form of guaranteed money you can get from Kroger, Food Lion, or the Post Office.
Money Order
This characteristic of money means it is able to be broken into smaller parts.
Divisible
Branch of the US treasury department that finalizes the printing of Money
Bureau of Engraving
This is the term for income you get that is not consistent. Maybe you won a game show or the lottery if you are receiving this type of income.
Windfall Income
Income you could receive if someone who passes away leaves money to you
Inheritance
This type of money is guaranteed on paper from a bank.
Cashier's Check
This characteristic of money means there is a limited amount of it available.
Scarce
Funds collected by the government to pay for the things they do
Taxes
What day is known as Tax Day in the US?
April 15
Money you earn from working extra hours at your job
Overtime Pay