Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Wills Econ

Term Sheet 6.1-6.5

Medium of Exchange anything that is used to determine value during the exchange of goods and services
Unit of Account a means for comparing the values of goods and services
Store of Value Something that keeps its value if it is stored rather than used
Commodity Money objects that have value in themselves and that are also used as money
Representative Money objects that have value because the holder can exchange them for something else of value
Fiat Money money that has value because the government has ordered that it is an acceptable means to pay debts
National Bank a bank chartered, or licensed, by the national government
Gold Standard a monetary system in which paper money and coins are equal to the value of a certain amount of gold
Central Bank bank that can lend to other banks in times of need
Federal Reserve Bank a banking system that keeps only a fraction of funds on hand and lends out the remainder
Federal Reserve Board a seven-member body that governs the Federal Reserve System, the U.S. central bank in charge of making the country's monetary policy
Federal Reserve Notes the national currency we use today in the United States
Monetary Policy regulating the money supply, controlling inflation/deflation, adjusting the interest rates to regulate the economy, the cost of money, and adjusting the band reserve requirements.
Reserve Requirements a rule stating that a percentage of every deposit be set aside as legal reserves
Federal Funds Rate the rate of interest that banks charge one another on overnight loans made from temporary excess reserves
Discount Rate interest rate that the Federal Reserve System charges on loans to the nations financial institutns
Fractional Reserve Banking a banking system that keeps only a fraction of funds on hand and lends out the remainder
Interest the price paid for the use of borrowed money
Principal the amount of money borrowed
Created by: deleted user
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards