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Currency
Banks
Accounts
Vocabulary
Insurance by Government
100

A current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.


What is the definition for money?
100
A place where you can store your money
What is a bank?
100
Demand deposit
What is the name of money in a checking account?
100

Loans payable over long periods

What is long-term credit?
100

a plan to help workers who lost their jobs due to circumstances beyond their control.

What was social security?
200
Coins and cash. Coins are made in mints (Philadelphia, Pennsylvania and Denver, Colorado) and cash is printed in the Federal Bureau of Engraving and Printing (Washington D.C)
What type of money do we use, and where are they made?
200
They started when people used to keep their money with goldsmiths.
When did the idea of banks start?
200
They allow you to withdraw money from your account
What do ATM cards do?
200
Loans payable over a short period of time.
What is short-term credit?
200

help people who have job-related injuries or illnesses resulting from working conditions

What does the workers' compensation do?
300
It must be light,standard,and durable.
What are the three characteristics that all currency must have?
300
They were created in the mid-1800s.
When were savings and loans banks created?
300
Certificates of Deposit
What is another name for longer time deposit accounts?
300

Property used to guarantee repayment of a loan

What is a collateral?
300
The survivors of the workers
Who gets paid death benefits?
400
Each state had its own type of currency.
What was a problem with the currency under the Articles of Confederation?
400

To encourage people who could make only very small deposits to save.

Why were savings banks created?
400
The account can earn a higher amount of interest.
What happens if a minimum amount of money is kept in a money market deposit account?
400

Mutual funds that buy short-term bonds

What is a money market fund?
400

A program provides money to the states to help pay the medical costs of people with  low incomes.

What is Medicaid?
500
To make them harder to counterfeit.

Why were $5, $10, $20, $50, and $100 bills redesigned?

500

People who work for a single company or belong to a single organization.

Who can establish credit unions?
500

You can write checks and receive interest on the money  in the account.

What can you do on a NOW account?
500

The voluntary insurance that individuals and companies pay to cover unexpected losses 

What is a private insurance?
500

Includes a voluntary medical insurance plan that helps many older citizens  pay their medical bills.

What does Medicare include?