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Definition
| a moneyless economy that relies on trade |
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Definition
| any substance that serves as a medium of exchange, measure of value, and store of value |
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Definition
| something accepted by all parties as payment for goods and services |
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Definition
| a common denominator that can be used to express worth in terms that individuals can understand |
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Definition
| the property that allows purchasing power to be saved until needed |
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Definition
| money that has an alternative use as an economic good or commodity |
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Definition
| money by government decree |
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Definition
| a form of currency that the Narragansett tribe made out of white and black shells |
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Definition
| a form of flat paper currency with no gold or silver backing |
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Definition
| money in the form of coins made from silver or gold |
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Term
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Definition
| a standard unit of currency |
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Definition
| the mechanism designed to keep the money supply portable, durable, divisible, and limited in supply |
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Definition
| banks that received their charter to operate from a state government |
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Definition
| fiat currency that must be accepted in payment for debts |
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Term
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Definition
| privately owned banks that received their operating charter from the federal government |
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Definition
| paper currency of uniform appearance that was backed by US government bonds |
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Definition
| paper currency backed by gold placed on deposit with the US Treasury |
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Definition
| paper currency issued by the treasury that was redeemable in both gold and silver |
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Definition
| a monetary standard under which the basic currency unit is equal to, and can be exchanged for a specific amount of gold |
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Definition
| privately owned, but publicly controlled central bank of the United States |
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Definition
| bank that can lend to other banks in times of need |
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Definition
| a rush by depositors to withdraw their funds from a bank before it fails |
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Definition
| a brief period during which every bank in the country is required to close |
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Definition
| banks that cater to the interests of businesses and commerce |
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Definition
| a depositor-owned financial organization operated only for the benefit of its depositors |
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Term
| Savings and Loans Associations |
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Definition
| a depository institution that invests the majority of its funds in home mortgages |
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Definition
| a non-profit service cooperative that is owned and operated for the benefit of its members |
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Definition
| the removal or relaxation of government restrictions on businesses |
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Term
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Definition
| a person or institution to whom money is owed-- and may sue to recover the cost |
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