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C719

Module 10

QuestionAnswer
Using money as payment Medium of Exchange
Using money to measure value / cost Unit of Account
Using money as savings Store of Value
Money that can be exchanged for something tangible like gold Commodity money
Money that is declared by the government to be legal tender Fiat Money
Cash + Coins + Checking Accounts M1
Cash + Coins + Checking Accounts + Savings M2
The central bank in the United States Federal Reserve
Who controls monetary policy at the Fed? FOMC
M2 = M1 + ____________ Savings
Money is anything that is accepted as _______________ Payment
What function of money is this? Buying a car with cash. Medium of Exchange
What function of money is this? Comparing car prices. Unit of Account
What function of money is this? savings for a car. Store of Value
Created by: chawk69
Popular Economics sets

 



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