Chapter 24
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| COIN | Metalic forms of money such as pennies and nickles.
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| CURRENCY | Includes both coins and paper money.
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| COMMERCIAL BANK | Financial institutions that offer full banking services to individuals and businesses.
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| SAVINGS AND LOAN ASSOCIATIONS (S&L) | Financial institution that traditionally loaned money to people buying homes.
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| CREDIT UNION | Work on a not-for-profit basis.
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| CENTRAL BANK | The Federal Reserve Systems, known as the Fed.
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| FEDERAL OPEN MARKET COMMITTEE (FOMC) | Makes the decisions that affect the economy as a whole.
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| MONETARY POLICY | The controlling of the supply of money and the cost of borrowing money according to the needs of the economy.
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| DISCOUNT RATE | The rate the Fed charges member banks for loans.
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| RESERVE | A certain percentage of deposits that banks have to set aside as cash in their own vaults or as deposits in their Federal Reserve district bank.
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| OPEN MARKET OPERATIONS | The purchase or sale of U.S governments bonds and treasuty bills.
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| CHECKING ACCOUNT | Allow costumers to write checks or to use check or debit cards.
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| SAVINGS ACCOUNTS | Banks pay interest to customers based on how much money they have deposited.
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| CERTIFICATE OF DEPOSIT | Requires a saver to deposit his or her funds for a certain period of time.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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