When putting money in a savings account, one is using money as a what?
What is store of value
100
The Fed was founded by this president
Who was Woodrow Wilson
100
the payment someone receives from financial institutions in exchange for the use of their money is called
What is interest
100
The FDA and CPSC protects people from these
What are unsafe foods, medicines, and toys
100
This is the worst type of unemployment
What is cyclical unemployment
200
Money from other nations can't be spent in the US because of not fitting this characteristic of money
What is acceptability
200
The major goal of the Fed is to promote economic stability and this
What is economic growth
200
Diversification is choosing a variety of these
What are investments
200
By calling printed pieces of paper "legal tender," the government makes those pieces of paper what type of money?
What is fiat money
200
When people are working, but don't have jobs that reflect their education and skills, they are known as this
What is underemployed
300
Early conflicts over banking were most strongly engaged in by these two men
Who were Thomas Jefferson and Alexander Hamilton (who by the way was killed in a dual - crazy, right?)
300
This can cause banks to request loans from the Fed
What are large withdrawals of cash, for a variety of reasons
300
One reason to save in banks is security; today, the FDIC insures accounts up to this much
What is 100,000 dollars
300
The President nominates and the senate confirms people to work in the highest offices of this federal monetary body
What is the Federal Reserve
300
This type of unemployment is an expected part of the economy
What is frictional unemployment
400
Money functions as something that we can all use to get other items that we want...that function makes money this
What is a medium of exchange
400
Members of the board of governors of the Fed are appointed for this long a term
What is fourteen years
400
Deregulation in this has led to increased competition and a wider variety of services being offered for savers
What is banking
400
The government measures the Gross Domestic Product annually to determine national growth in outputs; drug production and dealing doesn't get counted because it's part of this
What is the underground economy
400
If a company changes the way they do business or the resources of an area get used up, it causes this type of unemployment
What is structural
500
Most banks that citizens keep their money in are supervised by this federal entity
What is the Federal Reserve
500
The Fed stores this for member banks, and delivers it to them upon demand
What is currency
500
Interest growing and growing upon itself is known as this
What is compound interest
500
The government aims to moderate the business cycle to avoid these
What are recessions and inflation
500
If a person is out of a job and have stopped looking for work, he or she is known as a