Ch 10-1 Vocab

4. standard currency in a countries money supply
6. accounts where their funds can be taken out of by writing a check of using a debit card
8. central bank of the U.S. that is privately owned but publicly controlled
10. money accepted as payment for goods and services
11. allows people to preserve value for future use
12. serves as a common denominator to measure value

1. economy relied on trade and barter, not money
2. paper currency issued by the Fed that eventually replaced all other types of federal currency
3. money in the form of gold or silver coins
4. broad definition of money supply of conforming to money's role as a medium of exchange and store of value
5. to overthrow the government
7. money with an alternative use as an economic good or commodity
9. money by government decree
12. narrow definition including coins and currency, checks, DDA's,and checking accounts.