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| Any asset that can easily be used to purchase goods and services. |
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| Bank accounts on which people can write checks |
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| The total value of financial assets in the economy that are considered money. |
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| An asset that individuals aquire for the purpose of trading rather than for their own consumption. |
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| Holding purchasing power over time. |
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| A measure used to set prices and make economic calculations. |
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| A good used as a medium of exchange that has other uses. |
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| A medium of exhange with no intrinsic value whose ultimate value is guaranteed by a promise that can be converted into valuable goods. |
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| A medium of exchange whose value derives entirely from its official status as a means of payment. |
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| Financial assets that can't be directly used as a medium of exhange but can be readily converted into cash or checkable bank deposits. |
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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 bank deposits. |
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| The currency banks hold in their vaults plus their deposits at the Federal Reserve. |
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| The fraction of bank deposits that a bank holds as reserves. |
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| A phenomenon in which many of a bank's depositors try to withdraw their funds due to fears of a bank failure. |
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| Guarantees that a banks's depositors will be paid even if the bank can't come up with the funds, up to a maximum amount per account. |
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| Are rules set by the Federal Reserve that determine the minimum reserve ratio for a bank |
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| The sum of currency in circulation and bank reserves |
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| The ratio of the money supply to the monetary base |
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| An institution that oversees and regulates the banking system and controls the monetary base. |
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| Allows banks that fall short of the reserve requirement to borrow funds from banks with excess resrves. |
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| The interest rate determined in the federal funds market. |
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| The rate of interest the Fed. charges on loans to banks. |
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Definition
| A purchase or sale of government debt by the Fed. |
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