Across
- 3. 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
- 4. Money or other substance generally accepted as payment for goods and services; one of the three functions of money
- 8. Paper currency issued by the Fed that eventually replaced all other types of federal currency
- 9. Moneyless economy that relies on trade or barter
- 10. Privately owned, publicly controlled, central bank of the United States
- 12. Money in the form of gold or silver coins
- 13. Account whose funds can be removed from a bank or other financial institution by writing a check or using a debit card
Down
- 1. One of the three functions of money that allows it to serve as a common denominator to measure value
- 2. Money that has an alternative use as an economic good; gunpowder, flour, corn, etc.
- 5. One of the three functions of money allowing people to preserve value for future use
- 6. Money by government decree; has no alternative value or use as a commodity
- 7. Standard unit of currency in a country’s money supply; American dollar, British pound, etc.
- 11. Broad definition of money supply conforming to money's role as a medium exchange and a store of value; components include M1 plus savings deposits, time deposits, and money market funds