The basing of a currency on gold. In some sense in such a
system, gold IS the currency and money is a symbol for a
corresponding amount of gold, backed by the issuer - i.e. the bank
promises that by some means you are always able to exchange X of
its currency for Y gold, and vice versa.
No country still uses the gold standard - modern currencies are
free floating with their value determined by local markets and
exchange rates with other currencies.
Even so, national governments still usually carry large gold
reserves as a holdover from the time when they needed them as a
physical guarantee. Gold has remained valuable over thousands of
years so it can always be sold as needed for any currency
(including its own) that a country might need, or bought to safely
store wealth.
A currency system in which each dollar is worth 1/20 of an ounce
of gold (gradpoint)
🔄 Click to see term
Term1/18
What is a stock portfolio
🔄 Click to see definition
Definition1/18
A stock portfolio is all the stocks that you own. I would
venture to say that if you had one stock in any company, you would
have one stock in your portfolio. If you had 5 different stocks,
you would have a total of 5 stocks in your portfolio.
🔄 Click to see term
Term1/18
What did the US Supreme Court rule in Furman v Georgia
🔄 Click to see definition
Definition1/18
In Furman vs. Georgia the court ruled that all existing death
penalty laws violated the constitution.
🔄 Click to see term
Term1/18
What if you put a dollar bill instead of coins in the toll booth unaware that coins are only to be used
🔄 Click to see definition
Definition1/18
Think that the following saying has just passed you "A fool and
his money are soon parted."
🔄 Click to see term
Term1/18
When was the first Bank of the United States formed by the Federalists
🔄 Click to see definition
Definition1/18
in the late eighteenth century
🔄 Click to see term
Term1/18
What bank did Hamilton support
🔄 Click to see definition
Definition1/18
First bank of the united states. He was the first Secretary of
the Treasury.
🔄 Click to see term
Term1/18
Money serves as a good store of value except when an economy experiences a period of
🔄 Click to see definition
Definition1/18
...inflation
🔄 Click to see term
Term1/18
What is the purpose of social security taxes
🔄 Click to see definition
Definition1/18
Old age survivors and disability insurance (oasdi) social
security benefits and medicare insurance .
🔄 Click to see term
Term1/18
What is a bank that belongs to the federal reserve system called
🔄 Click to see definition
Definition1/18
member bank
🔄 Click to see term
Term1/18
What is money that has value because the government has established it as acceptable for payment of debts
🔄 Click to see definition
Definition1/18
representive money.
🔄 Click to see term
Term1/18
What is the amount paid to purchase a bond that will be repaid at maturity
🔄 Click to see definition
Definition1/18
face value
🔄 Click to see term
Term1/18
Why has the supreme court upheld laws that require permits for protests in public places
🔄 Click to see definition
Definition1/18
because some protests can pose a danger to other citizens.
🔄 Click to see term
Term1/18
What is the simple interest of a loan for 1000 with 5 percent interest after 3 years
🔄 Click to see definition
Definition1/18
$150. 5% interest per $1000 is $50 per year. You had the loan 3
years- $50 x 3.
🔄 Click to see term
Term1/18
Can money donated to charity be claimed on a tax deduction sheet in the US
🔄 Click to see definition
Definition1/18
It depends which state, what charity, time of the year, and the
purpose of the charity. Most often charity money can be claimed on
a tax deduction sheet in the U.S.
🔄 Click to see term
Term1/18
What is unit of account
🔄 Click to see definition
Definition1/18
A standard monetary unit of measurement of the value of goods
and services. Example: money
🔄 Click to see term
Term1/18
When was National Association for the Advancement of Colored People created
🔄 Click to see definition
Definition1/18
National Association for the Advancement of Colored People was
created in 1909.
🔄 Click to see term
Term1/18
May suspend a writ of habeas corpus in a time of war
🔄 Click to see definition
Definition1/18
Congress and the President
🔄 Click to see term
Term1/18
You are a financial advisor whose client is concerned about losing his investment if a company goes out of business what do you advise the client to buy
🔄 Click to see definition
Definition1/18
preferred stock
🔄 Click to see term
🥳
Great job!
You studied all the cards in this guide.
Rate this guide:
☆★☆★☆★☆★☆★
Start overPrint
Full screen
Rate this Study Guide:
☆★☆★☆★☆★☆★
Cards in this guide (18)
What is the Gold Standard
The basing of a currency on gold. In some sense in such a
system, gold IS the currency and money is a symbol for a
corresponding amount of gold, backed by the issuer - i.e. the bank
promises that by some means you are always able to exchange X of
its currency for Y gold, and vice versa.
No country still uses the gold standard - modern currencies are
free floating with their value determined by local markets and
exchange rates with other currencies.
Even so, national governments still usually carry large gold
reserves as a holdover from the time when they needed them as a
physical guarantee. Gold has remained valuable over thousands of
years so it can always be sold as needed for any currency
(including its own) that a country might need, or bought to safely
store wealth.
A currency system in which each dollar is worth 1/20 of an ounce
of gold (gradpoint)
What is a stock portfolio
A stock portfolio is all the stocks that you own. I would
venture to say that if you had one stock in any company, you would
have one stock in your portfolio. If you had 5 different stocks,
you would have a total of 5 stocks in your portfolio.
What did the US Supreme Court rule in Furman v Georgia
In Furman vs. Georgia the court ruled that all existing death
penalty laws violated the constitution.
What if you put a dollar bill instead of coins in the toll booth unaware that coins are only to be used
Think that the following saying has just passed you "A fool and
his money are soon parted."
When was the first Bank of the United States formed by the Federalists
in the late eighteenth century
What bank did Hamilton support
First bank of the united states. He was the first Secretary of
the Treasury.
Money serves as a good store of value except when an economy experiences a period of
...inflation
What is the purpose of social security taxes
Old age survivors and disability insurance (oasdi) social
security benefits and medicare insurance .
What is a bank that belongs to the federal reserve system called
member bank
What is money that has value because the government has established it as acceptable for payment of debts
representive money.
What is the amount paid to purchase a bond that will be repaid at maturity
face value
Why has the supreme court upheld laws that require permits for protests in public places
because some protests can pose a danger to other citizens.
What is the simple interest of a loan for 1000 with 5 percent interest after 3 years
$150. 5% interest per $1000 is $50 per year. You had the loan 3
years- $50 x 3.
Can money donated to charity be claimed on a tax deduction sheet in the US
It depends which state, what charity, time of the year, and the
purpose of the charity. Most often charity money can be claimed on
a tax deduction sheet in the U.S.
What is unit of account
A standard monetary unit of measurement of the value of goods
and services. Example: money
When was National Association for the Advancement of Colored People created
National Association for the Advancement of Colored People was
created in 1909.
May suspend a writ of habeas corpus in a time of war
Congress and the President
You are a financial advisor whose client is concerned about losing his investment if a company goes out of business what do you advise the client to buy