Money Review

1. when people panic and all try to get their money out at the same time it is called a __ on the banks.
3. the interest rate that banks charge reach other is called the ___ funds rate
5. this type of money has value because it can be exchanged for something else
6. ___ thousand banks were printing money in 1860
7. the interest rate that the Federal Reserve charges banks is called the ___ rate
9. This group determines monetary policy for the Federal Reserve
12. at the top of the Federal Reserve structure is the Board of ____.
13. the % of deposits that a bank is not allowed to loan out is called the Required ___ Ratio
14. this type of money has value because the government says so.
19. money can't be too easy to get; it must have a ___ supply
20. the money does not wear out easily
21. it can be easily broken down into smaller units
24. when there is too much spending in an economy this occurs

1. when there is not enough spending in the economy, this occurs
2. during a recession, the Federal Reserve likes a(n) money policy
4. without a ___ of exchange, people would need to barter
8. a dollar bill is worth the same as 100 pennies
10. everyone is willing to exchange the currency for goods and services
11. it is easily carried around
15. this type of money has value because of what it is made out of (gold, salt)
16. The Federal Reserve transfers money from one bank's account to another as part of the check ____ process
17. what former president was the first to oppose a National Bank
18. the Federal Reserve System is most commonly referred to as the ___.
22. the most common form of representative money is the ___.
23. a unit of ___ allows you to compare values of goods and services on the basis of one common thing.