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Anything that is used to determine value
Medium of exchange
An institution for receiving, keeping, and lending money
Bank
The portion of bank reserves that a bank must keep on reserve are known as
Required Reserves
A ___ is a type of pooled fund that often engages in highly speculative investments and is generally restricted to wealthy clients
Hedge Fund
What is the best-selling cookie brand in the world?
Oreo
The direct exchange of one good for another
Barter
The central banking system of the United States
Fed
The portion of bank reserves that banks are permitted to lend or invest are known as
Excess Reserves
An agent responsible for finding a buyer for sellers of different securities is known as a
Which Crayola color was named by a five-year-old?
Razzmatazz
something that keeps its worth
store of value
A government institution that covers bank accounts against bank failure
FDIC
The use of debt to increase the protentional rate of return on one's own investment is called
leverage
Mortgages given to people with poor credit are known as
Sub Prime Mortgages
What animal has the most teeth?
Snails
system that keeps only a small part of a deposit on hand and lends out the rest
Fractional Reserve Baning
A system in which a country's money is backed with gold
Gold Standard
A medium of exchange that is valuable because a government says that it has value is
Fiat Money
When the aggregate price level falls economists use the term ___ to describe the situation
Deflation
What TV show takes place in the fictional city of Dillon, Texas?
Friday Night Lights
The fact that money can be immediately used in exchange, whereas valuable jewelry cannot, illustrates the fact that money is
Liquid
When something contains intrinsic value and also serves as medium of exchange is known as
Commodity Money
Vault cash and deposits at the Federal Reserve count towards ____ a term that describes funds not lent out or invested by a private bank
Bank Reserves
A government institution that covers bank accounts against bank failure
FDIC
In Cajun cuisine, what crustaceans are playfully referred to as mud bugs?
Crawfish