Cards in this guide (24)
Which of the following most accurately explain why commodity money has value
Commodity money is a good that can be used as a medium of
exchange or for some other purpose.
Why is the willingness to pay more for goods and services destructive to the nation's economy
it drives up prices and causes money to loss value.
Which of these does not describe representative money
it only has value because the government says it does
What is the Federal Reserve managed by at the national level
Which of these was not brought about by the passage of the National Bank Acts of 1863 and 1864
the creation of a centralixed bank of the United States
Which of these was created from the Glass-Steagall Act of 1933 after the Great Depression
Federal Deposit Insurance Corporation
Which of these led to the Panic of 1907
an increase in bank runs due to a lack of confidence in the banking system
Why is deflation destructive to the nation's economy
Not enough money is spent to keep business activity moving
Which of these does not accurately describe the Free Banking Era
The number of banks grew rapidly,but many failed
The U.S. economy experience a period of rapid growth and
prosperity. (A+)
-Hailey
What do board members of the Federal Reserve obtain their positions
They are appointed by the president and confirmed by the
Senate.
What form of money has value only because the government says it does
representative money (A+)
-Emmy aka Hello Kitty
Fiat Money (A+)
-Hailey
What is money called when it is accepted for goods and services
What does the Federal Deposit Insurance Corporation do
It acts as an insurer of bank customer deposits. A+
How many nationwide districts is The Federal Reserve broken down into
The Federal Reserve is broken down into twelve districts.
If money supply growth exceeds the growth of the overall economy what will be the result
The Panic of 1907 was casued by what
The panic of 1907 was called by a financial crisis that began at
the beginning of the twentieth century.
What is the term for the federal reserves buying and selling of US treasury bonds
Which of these is not a service provided by the government using revenue from taxes
The nation's economic health is currently calculated by using what
What of these describes the Federal Reserve System
part private and part public company A+
What led to the demise of the second bank of the United states
controversy over corruption and political opposition
How long did the charter for the First Bank of the United states last
The Second Bank of the United States was formed largely as a result of which war
Which form of exchange is used in simple societies and does not involve money
