Ch 10-1 Vocab

2. money in the form of gold or silver coins
6. an overthrow of government
7. 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
8. privately owned, publicly controlled, central bank of the United State
9. standard unit of currency in a country’s money supply; American dollar, British pound, etc.
11. 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
12. account whose funds can be removed from a bank or other financial institution by writing a check or using a debit card

1. money or other substance generally accepted as payment for goods and services; one of the three functions of money
2. one of the three functions of money allowing people to preserve value for future use
3. moneyless economy that relies on trade or barter
4. money that has an alternative use as an economic good; gunpowder, flour, corn, etc.
5. paper currency issued by the Fed that eventually replaced all other types of federal currency
10. money by government decree; has no alternative value or use as a commodity