Economics: Chapter 9 - What Money is Good For

5. Anything that is generally accepted as a means of payment.
8. Direct exchange of one good for another good without a standard form on money changing hands.
9. Available for usein both large and small units.
12. Jesus, in the Sermon on the Mount, admonished His listeners to not lay up this on Earth.
14. Legal tender that is backed by nothing but a government's promise.
16. Assets that can be easily converted into M1 money because of it is highly liquid.
18. Stability in value.
20. Valuableness of item in its own right aside from being recognized as money.
22. A type of shilling that served as money in the Puritan colony of MA Bay.
24. Easily carried about.
27. Central banking network of the United States.
28. Legendary Greek king who supposedly could turn things into gold by only a touch.
29. Standard, recognizable appearance.
30. If prices decrease because money seems more valuable and stable.

1. Gold, silver, or platinum, usually found in the form of bars, ingots, or plates.
2. Two of most precious metals used most often for coins.
3. A period, usually six months or longer, during which the economy recedes or declines.
4. American politician who believed that paper money deluded the people.
6. Coins that are deliberately lowered in quality and value.
7. Economic law that states some forms of money are viewed as more valuable, so people will spend forms of money that are less valuable.
10. Any form of money that been declared a valid means of payment.
11. Slow to wear out.
13. Theory that the variation in the money supplyis the main source of economic fluctuations.
15. A system which allows banks to hold less than 100 percent of deposits in reserve.
17. Asserted value.
19. Coined, metallic money.
21. When the level of prices in the market rises because too much money is in circulation.
23. "The _________ of money is the root of all evil."
25. Department led by Alexander Hamilton during the Washington administration.
26. A word used by Jesus to describe riches.