vocab

3. money in the form of gold or silver coins
4. moneyless economy that relies on trade or barter
9. account whose funds can be removed from a bank or other financial institution by writing a check or using a debit card
11. paper currency issued by the Fed that eventually replaced all other types of federal currency
12. broad definition of money supply conforming to money’s role as a medium of exchange and store of value; components include M1 plus savings deposits, time deposits, and money market funds
13. money by government decree; has no alternative value or use as a commodity
14. narrow definition of money supply conforming to money’s role as medium of exchange; components include coins, currency, checks, other demand deposits, traveler’s checks

1. standard unit of currency in a country’s money supply; American dollar, British pound
2. privately owned, publicly controlled, central bank of the United States
5. money that has an alternative use as an economic good; gunpowder, flour, corn, etc.
6. one of the three functions of money allowing people to preserve value for future use
7. one of the three functions of money that allows it to serve as a common denominator to measure value
8. money or other substance generally accepted as payment for goods and services; one of the three functions of money
10. an overthrow of government