Term
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Definition
| money without intrinsic value that is used as money because of a government decree (paper money) |
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Term
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Definition
| the paper bills and coins in the hands of the public |
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Term
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Definition
| the central bank of the United States |
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Term
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Definition
| an institution designed to oversee the banking system and regulate the quantity of money in the economy |
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Term
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Definition
| the quantity of money available in the economy |
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Term
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Definition
| the setting of the money supply by policymakers in the central bank |
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Term
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Definition
| deposits that banks have received but have not loaned out |
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Term
| fractional-reserve banking |
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Definition
| a banking system in which banks hold only a fraction of deposits as reserves |
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Term
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Definition
| the fraction of deposits that banks hold as reserves |
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Term
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Definition
| the amount of money the banking system generates with each dollar of reserves |
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Term
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Definition
| the purchase and sale of U.S. government bonds by the Fed |
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Term
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Definition
| regulations on the minimum amount of reserves that banks must hold against deposits |
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Term
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Definition
| the interest rate on the loans that Fed makes to banks |
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Term
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Definition
| the set of assets in an economy that people regularly use to buy goods and services from other people |
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Term
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Definition
| an item that buyers give to sellers when they want to purchase goods and services |
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Term
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Definition
| the yardstick people use to post prices and record debts |
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Term
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Definition
| an item that people can use to transfer purchasing power from the present to the future |
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Term
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Definition
| the ease with which an asset can be converted into the economy's medium of exchange |
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Term
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Definition
| money that takes the form of a commodity with intrinsic value (gold) |
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Term
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Definition
| medium of exchange, unit of account, and store of value |
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Term
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Definition
| money without intrinsic value that is used as money because of government decree |
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Term
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Definition
| the paper bills and coins in the hands of the public |
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