Details

Title: CH 13

Description: Money & Banks

Total Flash Cards: 9

Created: 11/18/2007 18:08:53

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Additional Economics Flashcards

Cards in this set:

Term
Barter
 Definition
trade
Term
Money
 Definition

Anything used as a medium of exchange

 

*medium of exchange, store of value, standard of value
Term

Transaction account

 Definition
a bank acct that permits direct pmnt to a 3rd party
Term
Deposit Creation
 Definition
saving money
Term
Bank Reserves
 Definition
assets held by a bank to fulfill its deposit
Term
Required Reserves
 Definition
required reserve ratio X total deposits
Term
Excess Reserves
 Definition
total reserves (minus) req'd reserves
Term

Money Multiplier

 Definition
1/req'd reserve ratio
Term
Near money
 Definition
actual value is less than monetary value