Shared Flashcard Set

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American Economic History
N/A
10
Economics
Undergraduate 4
02/25/2012

Additional Economics Flashcards

 


 

Cards

Term
Mobilization of Capital
Definition
The banking act of recieving deposits, paying intereset, and making loans.
Term
Fractional Reserve Banking
Definition
The bank posesses a fraction of the funds needed to repay all deposits
Term
Specie
Definition
Coin Money
Term
Intermediation
Definition
The role the bank plays in economic activity of receiving deposits and making loans. They are the intermediary between the deposit and the loan.
Term
Reserve Ratio
Definition

The amount of money the bank is required to have on hand as a ratio of what is owed to depositors.

 

Term
Inflation
Definition

Too many dollars chasing too few goods

or

More money chasing the same volume of goods

Term
Diminution
Definition
the act, process, or an instance of diminishing
Term
Comptroller
Definition
a public official who audits government accounts and sometimes certifies expenditures
Term
Fiat Money
Definition
money (as paper currency) not convertible into coin or specie of equivalent value
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