Banking & Liquidity
How do banks make money
By charging interest on loans
What is the long-term goal
Continually growth
medium of exchange
unit of account
store of value
How many characteristics are there
6
When did the Cubs win the world series
2016
How many types of bonds are there
8
What is a legal reserve
The minimum amount of money financial institutions that are required by law to keep as security
Who prints money
United States Department of Treasury
What is the smallest bill
$1
What are the primary colors
Red
Yellow
Blue
What is a bond
Debt instrument created for the purpose of raising capital
What does FDIC stand for
Federal Deposit Insurance Corporation
What is inconvertible paper money made legal tender by a government decree
Fiat Money
How many types of bills are still being printed
7
How many U.S. states border the Gulf of Mexico
5
What is liquidity
A markets feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the assets price
How many members are there on the board of governors
7
When did the government drop the gold standard
1971
What are the 6 characteristics
portable
durable
divisble
limited supplies
uniform
form of payment
What is the diamter of the Earth
8,000 miles