Money that only has value because the government gives it to the money is called: correct answers fiat money
Silver or gold coins used to buy goods and services would be an example of: correct answers commodity money
American dollars are made out of cotton/linen rather than paper. Money in Gu...
Econ Test 4(A+ Graded)
Money that only has value because the government gives it to the money is called: correct answers fiat
money
Silver or gold coins used to buy goods and services would be an example of: correct answers commodity
money
American dollars are made out of cotton/linen rather than paper. Money in Guatemala and Australia are
made out of plastic. These are both examples of countries trying to make their money correct answers
durable
credit is correct answers the absence of money and borrowing it.
An institution for receiving, keeping, and lending money is known as a correct answers Bank
Who shot Alexander Hamilton in the Famous duel in 1804, killing the main supporter of the Bank of the
United States? correct answers Aaron Burr
Sometimes mistaken for the results of eating too much taco bell, this occurs when a bank does not keep
adequate reserves of gold and silver in their vault. Causing panic and people to pull out all of their paper
money from banks, are known as correct answers Bank Runs
There are 12 regional Federal Reserve banks called correct answers Member Banks
To bring stability to banking in the United States this President was integral in putting us on the Gold
Standard correct answers McKinley
Of the asset options below, which one the the most "Liquid"? correct answers Gold Bars
The fee for borrowing money is known as? correct answers Interest
M2 consist of all the assets in M1, plus deposits in savings accounts and money market mutual funds.
correct answers True
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