Gov't and Money Vocab.

2. A good or service which is consumed prevents another from using it
5. A tax that takes a larger percentage of income from people in lower income groups than from higher income ones
7. Firms that stand between savers and borrowers, serving to collect excess funds and convert them to loans
8. Salt, shells, furs, and tobacco are all examples
11. Money that lasts over time is more functional than money that deteriorates
12. Money is more useful if it can be easily divided into smaller units.
13. Money is more useful if it can be easily transportable over distances.
14. A good or service for which payment must be made before use
15. The interest rate the FED charges commercial banks for loans
16. Money must be acceptable as payment in exchange for goods or services
19. A financial institution that provides various products and services to its customers, including checking and savings accounts, loans and currency exchange
20. The interest rate banks charge their best, most credit worthy customers

1. Each unit of money must be the same as the next unit
3. A tax on the manufacture or sale of a good or service
4. A tax that takes a larger percentage of income from people in higher income groups than from people in lower income ones
6. The basic, answer, in the United States is made up of currency, coins, and checking account deposits
9. Occurs when the market forces if supply and demand do not lead to the output society desires
10. Public debt
17. A nonprofit financial institution owned by its members
18. Taxes that are commonly levied on real property, which consists of land and buildings