Banking and Liquidity
Can you exchange money for gold?
no
What does the federal reserve do?
Provides a more stable monetary system.
What means exchanging money for a good
Purchasing
Easily divided into smaller units.
Divisibility
What is Mr.T's Real name
Laurence Tureaud
What was the gold standard?
exchanging money for gold.
What is the life expectancy of a $1 bill?
18-22 months
What is money considered
A medium of exchange
Easy to keep on hand
Portability
How many fingers do the Simpsons have?
4
What is liquidity?
ease and speed with which an asset can be converted into cash
Who is the chairman of the federal reserve?
Jerome Powell
The most liquid asset
what is Money?
The same in shape and size
Uniformity
what team is varsity flag football playing against today?
Locust Valley
What are banks?
Financial institutions
Who many federal reserve banks are there?
12
Money is good for measuring...
the worth of a good/service
Only available in a finite amount
Limited resource
Do ants have blood?
Yes
Are banks required to have insurance?
no
Which state has 2 federal reserve banks?
Missouri
Is money's value retained over time
yes
Universally taken for goods and services
Acceptability
Who was the first president of all 50 states?
Dwight D. Eisenhower