Money and Financial Institutions Quiz

Anything that people generally accept as payment for goods and services

The direct trading of goods or services for other goods or services

The amount of money the Federal Reserve Bank makes available for people to buy goods and services

<p>Money that can be accessed quickly and easily (coins and paper money, checks, traveler's checks, etc.)</p> Signup and view all the answers

<p>The rise in price</p> Signup and view all the answers

<p>The amount of goods and services you can buy with a dollar in the global market decreases</p> Signup and view all the answers

<p>The board of governors, the Federal Open Markets Committee (FOMC), 12 Federal Reserve banks, three advisory councils, and the member banks of the system</p> Signup and view all the answers

<p>A percentage of commercial banks' checking and savings accounts that must be physically kept in the bank</p> Signup and view all the answers

<p>The buying and selling of U.S. government bonds by the Fed to regulate the money supply</p> Signup and view all the answers

<p>The interest rate that the Fed charges for loans to member banks</p> Signup and view all the answers

<p>A profit-seeking organization that receives deposits from individuals and corporations in the form of checking and savings accounts and then uses some of these funds to make loans</p> Signup and view all the answers

<p>The technical name for a checking account; money in a demand deposit can be withdrawn anytime on demand from the depositor</p> Signup and view all the answers

<p>A time-deposit (savings) account that earns interest to be delivered at the end of the certificate's maturity date</p> Signup and view all the answers

<p>A financial institution that accepts both savings and checking deposits and provides home mortgage loans, often called thrifts</p> Signup and view all the answers

<p>Nonprofit, member-owned financial cooperative that offers the full variety of banking services to its members</p> Signup and view all the answers

<p>Financial organizations that accept no deposits but offer many of the services provided by regular banks (pension funds, insurance companies, commercial finance companies, consumer finance companies, and brokerage houses)</p> Signup and view all the answers

<p>Amounts of money put aside by corporations, nonprofit organizations, or unions to cover part of the financial needs of members when they retire</p> Signup and view all the answers

<p>An independent agency of the U.S. government that insures bank deposits</p> Signup and view all the answers

<p>The part of the FDIC that insures holders of accounts in savings and loan associations</p> Signup and view all the answers

<p>A computerized system that electronically performs financial transactions such as making purchases, paying bills, and receiving paychecks</p> Signup and view all the answers

<p>Debit cards are a convenient and widely used form of payment, directly drawing funds from the cardholder's checking account for purchases.</p> Signup and view all the answers

<p>Banker's acceptances are considered safe and reliable instruments, providing assurance that payment will be made according to the agreed terms.</p> Signup and view all the answers

<p>The IMF promotes global monetary cooperation, facilitating international financial stability and economic growth among member countries.</p> Signup and view all the answers

<p>The Federal Reserve, or the Fed, is the central bank of the United States and plays a crucial role in managing the nation's money supply, financial system, and economic stability.</p> Signup and view all the answers

<p>All of the above</p> Signup and view all the answers

<p>The U.S. banking system is comprised of diverse financial institutions that provide a range of services to individuals and businesses, fostering economic activity and financial stability.</p> Signup and view all the answers

<p>The Fed's check clearing function ensures that payments are settled through the banking system smoothly, facilitating the movement of funds between accounts of banks.</p> Signup and view all the answers