Types of Money and Trade Systems

Front

The _____ system occurs when goods and services are traded directly. There is no money exchanged.

Back

barter

Front

_____ refers to anything that is generally accepted as payment for goods and services.

Back

money

Front

_____ money performs the function of money (Examples include gold or silver)

Back

commodity

Front

_____ money serves as money but has not other value or uses (Examples include paper money, coins, and digital currency)

Back

fiat

Front

The _____ standard is no longer applicable. Money's value comes from our collective belief that it is valuable.

Back

gold

Front

The function of money includes which of the following? medium of exchange, unit of value, store of value, all of these

Back

all of these

Front

The _____ controls monetary policy.

Back

The Federal Reserve (Central Bank)

Front

_____ policy is when the Federal Reserve (Central Bank) adjusts the money supply to speed up or slow down the economy.

Back

Monetary policy

Front

The _____ requirements refers to the percent of deposits that banks must hold and cannot loan out.

Back

reserve

Front

The _____ rate is the interest rate that the Fed charges commercial banks.

Back

discount