Money and Banking

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Across
  1. 2. The sum total of all of the currency and other liquid assets in a country's economy
  2. 3. A dollar is a dollar is a dollar.
  3. 5. determines interest rates for loans
  4. 6. the difference between the interest rates
  5. 8. To be useful as a medium of exchange, money must be easy to divide into smaller amounts.
  6. 14. banks keep a fraction of deposits in reserve and make loans with the rest
  7. 16. money which is not backed by any commodity but is declared legal tender through government act.
  8. 17. durable, easily carried, divisible, and have a value that doesn't fluctuate too much.
  9. 19. The central bank that regulates and manages the nation’s banks and money supply
  10. 21. anything that is generally accepted as a means of payment
Down
  1. 1. money that is backed by representing a commodity (usually gold or silver)
  2. 4. any medium of exchange must be able to withstand the physical wear and tear of being continually transferred from person to person.
  3. 7. that can be used as cash or can easily be converted into cash
  4. 9. money needs to be able to measure and compare the value of a good or service based upon price.
  5. 10. money given to a person from a bank which must be repaid with interest.
  6. 11. a business which receives deposits and makes loans
  7. 12. To be convenient as a medium of exchange, money must be portable.
  8. 13. when a person puts money in a bank.
  9. 15. money must hold its value over time. Certainty must exist in the general value of money.
  10. 18. In order for you to buy something, the seller must be willing to accept what you offer as payment.
  11. 20. Whatever is used as money needs to be scarce enough to be valued by buyers and sellers.