Types of Money
Banking Basics
The Federal Reserve
Monetary Policy
Vocab
100

Cryptocurrency is an example of this type of money.

What is decentralized money?

100

National banks are chartered by this government

What is the federal government?

100

What the Federal Reserve is for the United States

What is the central bank of the United States?

100

Theory that suggests that rapid changes in money supply are the main cause of economic stability

What is monetarism?
100

Direct exchange of goods and services without money

What is barter?


200

Commodity money

What is the type of money whose value comes from the material it is made from?

200

Type of bank that is privately owned and created to make a profit.

What is commerical bank?

200

They oversee the Federal Reserve

What is the Federal Reserve Board of Governors?

200

Audits of bank financial practices.

What are bank exams?

200

Card that pulls money directly from a bank account

What is a debit card?
300

Anything that someone will accept as payment for goods/services

What is money?

300

The type of bank that is similar to a commerical bank but is exclusive to their members?

What is a credit union?
300

The type of policy that the Federal Reserve enacts.

What is monetary policy?

300

An effect of contractionary spending

What is: Real GDP down, prices fall, unemployment increases

300

System where currency value is backed by gold

What is gold standard?

400

Money that has value because the government/people declare it to have worth.

What is fiat money?

400

Store money, lend money, and provide financial services

What are banks created to do?

400

The amount of money that member banks must keep in reserves in order to bank with the Federal Reserve.

What is the reserve requirement?

400

Examples of this type of policy are buying bonds, lowering the reserve requirement, and reducing the discount rate.

What is expansionary policy?

400
A digital ledger that tracks cryptocurrency transactions

What is blockchain?

500

Paper and coins that we use in everyday transactions

What is currency?
500

Savings accounts and other deposits that cannot be used directly but can be converted to cash quickly. 

What is near money?

500

The interest rate that the Federal Reserve charges when it lends to other banks.

What is the discount rate?

500

The most commonly used tool used by the Feds to control the supply of money

What are open market operations? (buying/selling government securities)

500

Interest rate banks charge their best customers

What is prime rate?

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