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Banking and Policy

QuestionAnswer
Asset Anything tangible or intangible that is owned
Liability Anything that is owned
Liquidity Ease with a asset can be accessed and used as a medium of exchange
financial sector network of institutions that link borrowers and lenders including banks,mutual funds, pension funds, and other financial intermediaries
bond loans or IOUs that represent debt that the government, buisness, or individual must repay to the lender
stock Represents ownership of a corporation and the stockholder is often entitled to a portion of the profit
Medium of exchange Money can easily be used to buy goods and services with no complications of barter system.
A unit account Money measures the value of all goods and services. Money acts as a measurement of value.
A store of value Money allows you to store purchasing power for the future.
Commodity Money Something that performs the function of money and has intrinsic value. Examples: Gold, silver, cigarettes, etc.
Fiat Money Something that serves as money but has no other value or uses. Examples: Paper Money, Coins, Digital Currency
Demand deposit Money deposited in a commercial bank in a checking account
required reserve The percent that banks must hold by law
Excess reserve The amount that the bank can loan out
Bank balance sheet A record of a bank’s assets, liabilities, and net worth.
Fractional Reserve Banking When banks hold only a small portion of deposits to cover potential withdrawals and then loans the rest of the money out.
Created by: JellyfishGriddy
 

 



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