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☆☆☆☆☆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)
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.
A trade-off is an alternative that we sacrifice when we make a decision.
First bank of the united states. He was the first Secretary of the Treasury.
immediate demand for a good will go up if it's price is expected to rise.
this is how population changes affect demand for certain goods.
agreement on the price and quantity traded
Safety Net!
In USA - FDIC does it. FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy.
In India - RBI does it. RBI stands for Reserve Bank of India. They insure deposits worth 1 lakh from every customer per bank.
Customs and traditions.
Old age survivors and disability insurance (oasdi) social security benefits and medicare insurance .
A person wants an endless supply of everything but cannot have it.
hard work and patience
representive money.
Federeal Deposit Insurance Corporation (FDIC)
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
National Association for the Advancement of Colored People was created in 1909.
The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.
