Unit 4

5. becomes central bank system for the US in 1913
6. Created national currency called fiat greenback
10. Interest charge that borrowers pay lenders for a loan
12. Vetoed renewal of 2nd bank and withdrew national funds
13. money that has value in and of itself, you can use it as an item as well
15. Monetary change for the privledge of borrowing money
16. 1887, no central bank, independent banks issue currency
18. Prediction of credit history, how you pay things back to see if you are reliable
19. Sum total of all the currency and other liquid assets in a countries economy.

1. Trading goods or services for another
2. Durable, Portable, Divisible, scarce, these are all examples of what?
3. Medium of exchange, store of value, unit of account, these are all examples of what?
4. 1st Secretary of treasury, established first bank
7. something used as currency that has value simply because the government says so.
8. Interest you earn on interest
9. something used for currency that allows the holder to exchange it for something of value
11. Component of the money supply relating to moneys role as store of value
14. Component of the money supply relating to moneys role as a medium of exchange
17. When did the US use paper money?
18. What nation was the first to use paper money?