Chapter 16 Per. 3 Alan Dao, Hannah Nguyen, Ashley Dang

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Across
  1. 3. interest rate is the actual rate of interest that a saver will receive and a borrower will pay.
  2. 6. reserves are the source of loans and the money creation function of the banking system.
  3. 7. institution is a financial institution that obtains money mainly through deposits from clients.
  4. 8. is the exchange of goods or services for other goods or services without the use of money.
  5. 13. requirement specifies the percentage of deposits that banks must hold as reserves.
  6. 15. reserve banking system, banks must hold on to a fraction of their deposits and may lend out the rest.
  7. 16. money has value because the government has ordered that it be accepted in payment of debts.
  8. 17. financing is getting money by borrowing
  9. 19. and loan associations (S&L’s) depository institutions, similar to savings banks, that specialize in loans for the purchase of homes.
  10. 20. financing is getting money by selling stock
  11. 21. of account is a standard measure used to set prices and make economic calculations.
  12. 22. is paper money and coins.
Down
  1. 1. union is a not- for-profit depository institution owned by its members, who are also its customers.
  2. 2. supply is the amount of money available for the purchase of goods and services.
  3. 4. of value is something that can be saved and will hold its value relatively well over time.
  4. 5. bank accepts deposits from individuals and firms, and provides them with loans in addition to a wide variety of other services.
  5. 9. is a depository institution established to encourage saving and can be a savings and loan association, a credit union, or a savings bank.
  6. 10. deposits the money held in checking accounts at a bank.
  7. 11. money has no value of its own but can be exchanged for something of value.
  8. 12. of exchange is something people acquire for the purpose of payment for goods and services.
  9. 14. bank is a depository institution that specializes in loans for the purchase of homes and other real estate.
  10. 18. can be anything that is widely accepted in exchange for goods and services.
  11. 23. money is money that has value apart from its use as money.