Across
- 4. demand deposit account in full; account whose funds can be removed from a bank or other financial institution by writing a check or using a debit card
- 6. 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
- 9. money in the form of gold and silver coins
- 10. something accepted by all parties as payment for goods and services
- 11. moneyless economy that relies on trade or barter
- 13. an overthrow of government
- 14. one of the three functions of money that allows it to serve as a common denominator to measure value
Down
- 1. standard unit of currency in a country’s money supply; American dollar, British pound, etc.
- 2. federal reserve system in full; privately owned, publicly controlled, central bank of the United States
- 3. money by government decree; has no alternative value or use as a commodity
- 5. one of the three functions of money allowing people to preserve value for future use
- 7. money that has an alternative use as an economic good; gunpowder, flour, corn, etc.
- 8. paper currency issued by the Fed that eventually replaced all other types of federal currency
- 12. narrow definition of money supply that includes coins and currency, traveler’s checks, DDAs, and checking accounts held at depository institutions