Ch 10-1

5. 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
9. currency issued by the Fed that eventually replaced all other types of federal currency
11. economy that relies on trade or barter
14. by government decree; has no alternative value or use as a commodity

1. whose funds can be removed from a bank or other financial institution by writing a check or using a debit card
2. of the three functions of money that allows it to serve as a common denominator to measure value
3. money in the form of gold or silver coins
4. privately owned, publicly controlled, central bank of the United States
6. definition of money supply conforming to money’s role as medium of exchange; components include coins, currency, checks, other demand deposits, traveler’s checks
7. or other substance generally accepted as payment for goods and services; one of the three functions of money
8. of the three functions of money allowing people to preserve value for future use
10. that has an alternative use as an economic good; gunpowder, flour, corn, etc.
12. overthrow of government
13. standard unit of currency in a country’s money supply; American dollar, British pound, etc.