CH 10-1 Vocab

3. No alternative value or use as a commidity; money by government decree.
4. Components include coins, currency, checks, other demand deposits, traveler's checks; (narrow) definition of money supply conforming to money's role as medium of exchange;
7. Alternative money; gunpowder, flour, corn, hemp, musket balls, etc.
9. Money or other substance generally accepted as payment for goods/services; one of the three functions of money.
11. An overthrow of government.
12. Money in the form of gold/silver coins.

1. Standard unit of currency in a country's money supply; American dollar, British pound, etc.
2. Moneyless economy that relies on trade/barter.
3. Privately owned, publicly controlled, central bank of the US.
4. Allows it to serve as a common denominator to measure value; one of the three functions of money.
5. Funds deposited in a bank that can be accessed by writing a check/using a debit card.
6. Paper currency issued by the Fed (eventually replaced all other types of federal currency).
8. Components include M1 plus savings deposits, time deposits, and money market funds; (broad) definition of money supply conforming to money's role as a medium of exchange and store of value;
10. Allows people to preserve value for future use; one of the three functions of money.