Money History of American Banking Banking Today True or FalseVocabulary $100 $1$100$1$100$1$100$1$100 $2$200 $2$200$2$200 $2$200 $2$200 $3$300 $3$300$3$300$3$300$3$300 $4$400 $4$400$4$400$4$400$4$400 $5$500 $5$500$5$500 $ 5$ 500$5$500

Answer The official name for Mexican currency A 1 For $100

Question What is the Nuevo peso? Back to Game

Answer The lifespan of a typical U.S. paper dollar. A 2 For $200

Question: What is one year? Back to Game

Answer What units of value are called. A 3 For $300

Question: What is denominations. Back to Game

Answer Objects that have value in and of themselves and that are also used as money. A4 For $400

Question: What is commodity money? Back to Game

Answer All are uses of money. A5 For $500

Question: What are: Medium of exchange Unit of account Store of value? Back to Game

Answer He was the first American to propose a national bank that could issue a single currency for the entire nation. B1 For $100

Question: Who was Alexander Hamilton? Back to Game

Answer The number of regional federal reserve banks. B 2 For $200

Question: What is 12? Back to Game

Answer He appoints the supervisory board of the Federal Reserve Banks. B3 For $300

Question: Who is the U.S. President? Back to Game

Answer B4 For $400 In 1999, Congress repealed this act which prohibited banks to sell financial assets such as stock and bonds.

Question: What is the Glass-Steagall Act? Back to Game

Answer A monetary system in which paper and coins are equal to the value of a certain amount of gold. B5 For $500

Question: What is the gold standard? Back to Game

Answer They are also called demand deposits; because you can demand these funds instantly. C 1 For $100

Question: What are checking accounts? Back to Game

Answer Something that has the ability to be used as, or directly converted, into cash. C 2 For $200

Question: What is liquidity? Back to Game

Answer They were the first bankers in history. C 3 For $300

Question: Who are goldsmiths? Back to Game

Answer A banking system that keeps only part of its depositors funds and loans out the rest. C 4 For $400

Question: What is a fractional reserve banking system? Back to Game

Answer Cooperative lending associations for particular groups, usually employees of a specific firm or government agency. C 5 For $500

Question: What is a credit union? Back to Game

Answer A person or institution to whom money is owed. D1 For $100

Question: What is a creditor? Back to Game

Answer Failure to pay back a loan. D2 For $200

Question: What is to default? Back to Game

Answer Paper currency issued during the Civil War. D3 For $300

Question: What are greenbacks? Back to Game

Answer The direct exchange of one set of goods or services for another. D 4 For $400

Question: What is to barter? Back to Game

Answer The price paid for the use of borrowed money. D5 For $500

Question: What is interest? Back to Game

Answer What makes money a good store of value is that inflation has little effect upon it in the U.S. economy. E1 For $100

Question: What is false? Back to Game

Answer Tobacco, corn, and cotton all served as commodity money in the American colonies. E2 For $200

Question: What is true? Back to Game

Answer The U.S. Constitution places the power to create a national bank with the legislative branch of government. E3 For $300

Question: What is false? Back to Game

Answer President Andrew Jackson was one of the most ardent supporters of the Bank of the United States. E4 For $400

Question: What is false? Back to Game

Answer Since they are not really currency, travelers’ checks are not considered M1 money. E 5 For $500

Question: What is false ? Back to Game