Matching
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Identifying Key Terms
Match each term with the correct
statement below. a. | currency | b. | commodity money | c. | default | d. | Federal Deposit Insurance Corporation
(FDIC) | e. | Federal Reserve System | f. | fiat money | g. | interest | h. | money market mutual fund | i. | principal | j. | representative
money |
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1.
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objects that have value in themselves and that are also used as money
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2.
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money that has value because the government has ordered that it is an
acceptable means to pay debts
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3.
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the amount of money borrowed
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4.
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the price paid for the use of borrowed money
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5.
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coins and paper bills used as money
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6.
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money pooled from small investors and used to purchase government or corporate
bonds
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7.
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failure to pay back a loan
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8.
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the central banking system of the United States
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Identifying Key Terms
Match each term with the correct
statement below. a. | fractional reserve banking | b. | currency | c. | commodity money | d. | default | e. | Federal Deposit Insurance Corporation
(FDIC) | f. | Federal Reserve System | g. | interest | h. | mortgage | i. | principal | j. | representative
money |
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9.
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coins and paper bills used as money
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10.
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a specific type of loan that is used to buy real estate
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11.
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failure to pay back a loan
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12.
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the government agency that makes sure that customers’ money is safe if a
bank fails
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13.
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a system that keeps only a fraction of funds on hand and lends out the
remainder
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14.
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objects that have value in themselves and that are also used as money
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15.
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objects that have value because the holder can exchange them for something else
of value
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16.
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the price paid for the use of borrowed money
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