Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
chap 24
| Term | Definition |
|---|---|
| coin | metallic form of money such as pennies nickles and dimes |
| currency | both coins and paper money |
| commercial bank | a financial institution that offers full banking services to individuals and businesses |
| saving and loan association | financial institution that traditionally loan money to people buying homes |
| credit union | nonprofit service cooperative that accepts deposits makes loans and provides other financial services |
| central bank | an institution that lends money to other banks also the place where government does its banking business |
| federal open market cmmitte | the most powerful committee of the fed because it makes the decisions that affect the economy as a whole manipulating the money supply |
| monetary policy | policy that invokes changing the rate of growth of the money supply in circulation in order to affect the cost and availability of credit |
| discount rate | the interest rate that the fed charges for its loans |
| reserve | a certain percentage of deposits that banks have set aside as cash in their own vaults or redeposit in the federal reeve distract bank |
| open market operations | purchase or sale of the us government bands treasury |
| checking account | an account in which deposited money can be withdrawn at any time by a written check |
| saving account | an account in which customers receive interest based on how much money they have deposited |
| certification of deposit | timed deposit that states the amount of the deposit maturity and rate of the interest being paid |
Created by:
somonnemclean
Popular History sets