Term
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Definition
| Anything that serves as a medium of exchange, a unit of account, and a store of value |
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Term
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Definition
| Coins and paper bills used as money |
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Term
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Definition
| Objects that have value because a government has decreed that they are acceptable to pay debt |
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Definition
| Seizure of property from borrowers who are unable to repay their loans |
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Definition
| Ability to be used as or directly converted into cash |
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Term
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Definition
| All the money available in the US economy |
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Term
| Fractional Reserve Banking |
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Definition
| Keeps only a fraction of its funds on hand and lends out the remainder |
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Term
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Definition
| Failing to pay back a loan |
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Term
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Definition
| Specific type of loan to buy real estate |
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Term
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Definition
| Entitling its owner to buy goods and services based on owners promise to pay for those goods and services |
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Term
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Definition
| Price paid for the use of borrowed money |
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Definition
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Definition
| Card used to withdraw money from a bank account |
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Term
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Definition
| Person/Institute to whom money is owned |
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