Across
- 2. I used the money I made at work to buy a sandwich, what purpose of money is being illustrated?
- 6. Aca Taco prices its burritos at $10.49. Using money to set a price is which purpose of money?
- 7. currency that is only backed up by the government
- 9. this historical banking issue was characterized by variation in currency from state to state and instability in the banking sector
- 10. type of money that doesn’t have value itself, like paper money, but is given value because it can be used to get other stuff
- 11. the most popular type of loan for most banks…led to the financial meltdown
- 13. quick tool used to figure out how much money can be created from an initial deposit assuming we are using fractional reserve banking.
- 15. characteristic of “good” money in which we can break it down into smaller units
- 17. historical constitutional group who believed a central bank was necessary for a strong nat’l gov
- 18. type of bank represented by Bank of America, Wells Fargo, Chase, you know the big ones
- 19. type of money that has natural value…like if we used soy beans as currency
Down
- 1. most well-known type of cryptocurrency that many argue is not true currency
- 3. aspect of the money supply that includes all cash in circulation
- 4. type of metallic standard that the US has often used to back up its currency
- 5. type of policy set by the Federal Reserve that requires banks to hold a certain % of all deposits, it can loan the rest out. Leads to expansion of the money supply.
- 8. characteristic of “good” money that would explain why I don’t use heavy rocks as currency
- 9. central bank of the US, oversees other banks and sets US monetary policy
- 12. purpose of money that bitcoin is often criticized for…who knows how much it will be worth in a year
- 14. governmental program that insures deposits in banks so depositors feel safe if the bank goes out of biz
- 16. characteristic of “good” money in which it doesn’t fall apart