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ECON TEST 2

QuestionAnswer
____ are depository financial institutions who are engaged in the business of dealing with the monetary transactions of individual and commercial clients Bank
Facilitate the flow of cash through the economy among consumers, businesses and the government What in the job of a bank?
How do banks keep your money organized? By allowing you to deposit and withdraw money>
While your money is in the bank it is used for two purposes which are? Investments & Loans
TRUE or FALSE: Keeping money in the bank is safer than keeping money at home or in a wallet? TRUE
The governments revenue collect and spending decisions how the government makes and spends money; THIS IS KNOWN AS? Fiscal Policy
Is Fiscal Policy A Congress Or FED responsibility Congress Responsibility
Actions central banks take to pursue objectives related to the health of the economy such as setting interest rates and ensuring price stability Monetary Policy
Is Monetary Policy A Congress Or FED responsibility FED
What does the acronym FED stand for? Federal Reserve
What is the Central Bank of the United States The Federal Reserve
When you put money in a savings account and the interest rates grows giving you more money but you not investing any additional money Savers Deposit
TRUE or FALSE the largest source of income for banks is Overdraft Fees TRUE
When a person who needs a loan gets a loan from some elses account but that person who got the load now has to pay back the money in interest Borrowers Withdraw
What are the 4 types of Banking Accounts Checking Account, Savings Account, Certificate Deposit, Money Market Accuont
Created by: wilkinsrydellr
 

 



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