Economics Chapter 10 Vocab

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Across
  1. 4. a bank that receives its charter from the state in which it operates
  2. 6. currency that must be accepted for payment by decree of government
  3. 11. paper currency backed by gold; issued in 1863 and popular until recalled in 1934
  4. 12. a system in which the basic unit of currency is equivalent to, and can be exchanged for, a specific amount of gold
  5. 13. money in the form of gold or silver coins
  6. 14. certificate of ownership in a corporation; can be either common or preferred stock
  7. 16. paper currency issued by the Fed that eventually replaced all other types of federal currency
  8. 17. a commercial bank chartered by the National Banking System
  9. 18. the U.S. government institution that provides deposit insurance on the depositor’s account
  10. 21. brief period during which all banks or depository institutions are closed to prevent bank runs
  11. 22. person who owns a share or shares of stock in a corporation; same as stockholders
  12. 23. money that has an alternative use as an economic good; gunpowder, flour, corn, etc.
Down
  1. 1. standard unit of currency in a country’s money supply; American dollar, British pound, etc.
  2. 2. account whose funds can be removed from a bank or other financial institution by writing a check or using a debit card
  3. 3. moneyless economy that relies on trade or barter
  4. 5. an overthrow of government
  5. 7. money by government decree; has no alternative value or use as a commodity
  6. 8. currency backed by government bonds and issued by commercial banks in the National Banking System
  7. 9. a stipulation, usually in a legal document
  8. 10. nonprofit service cooperative that accepts deposits, makes loans, and provides other financial services
  9. 15. a bank that can lend to other banks in times of need, or a “bankers’ bank”
  10. 16. privately owned, publicly controlled, central bank of the United States
  11. 19. form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued
  12. 20. receipt showing that an investor has made an interest-bearing loan to a financial institution