Ch10-1

5. Money serves as a measuring stick used to express the worth of something in terms that most people understand
6. money by government decree.
9. funds deposited in a bank that can be accessed by writing a check or using a debit card.
10. a moneyless economy that relies on trade.
12. money that has an alternative use as an economic good, or commodity.

1. something accepted by all parties as payment for goods and services.
2. the privately owned, publicly controlled, central bank of the United States.
3. The feature of money that allows purchasing power to be saved until needed.
4. the most visible part of our money supply.
7. narrow definition that includes coins and currency, traveler’s checks, DDAs, and checking accounts held at depository institutions.
8. standard unit of currency, in the U.S. money system.
11. money in the form of silver or gold coins
13. broader measure that includes M1 along with forms of money that serve as a store of value, components including savings deposits, time deposits, and money market funds.