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Definition
| asset that can easily be used to purchase goods. |
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| bank accounts which ppl can write checks. |
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| total value of financial assets in the economy that are considered money. |
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| asset acquired for the purpose of trading rather than for their own consumption. |
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| means of holding purchasing power over time. |
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| measure used to set prices and make economic calculations |
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| good used as a medium of exchange that has other uses. |
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| medium of exchange with no intrinsic value whose ultimate value is guaranteed by apromise that it can be converted into valuable goods. |
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| value derives entirely from its official status as a means of payment. |
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Definition
| overall measure of the money supply. |
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| financial assets that can't be directly used as a medium of exchange but can be readily converted into cash or checkable deposits. |
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| currency banks hold in their vaults plus their deposits at the Fed Reserve |
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| fraction of bank deposits that a bank holds as reserves. |
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| when all members of bank want to withdraw money at one time. |
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| guarantees that a depositor's account is covered up to the max ammount. |
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| banks reserves over and above its required reserves. |
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| sum of currency in circulation and bank reserves. |
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Term
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Definition
| money supply:monetary base |
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| allows banks that fall short of the reserve requirement to borrow funds from banks with excess reserves. |
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Definition
| interest rate determined in the federal funds market. |
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Term
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Definition
| rate of interest the Fed charges on loans to banks. |
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Term
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Definition
| purchase or sale of gov debt by the Fed. |
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