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Published byLucas Wilkerson Modified over 9 years ago
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ECONOMICS CHAPTER 10 MONEY AND THE FINANCIAL MARKET Money for Nothing
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Money 10A Money 1 Chronicles 29:12 and Proverbs 30:8-9 pg 186 Money: is anything that a society commonly uses and generally accepts in payment for goods and services. Thus anything can serve as money. Legal Tender: U.S. Congress declares our currency to be legal tender, so that if you tender (or offer) it as payment for a debt, all creditors must accept it.
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Money 10A Functions of Money (pg187-188) Means of Payment Measure of Value Means of Storing Purchasing Power Bartering (inefficient) vs. using Money Desirable Characteristics of Money Convenience and Portability Divisibility Durability Stability
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Money 10A Money Standards Commodity money Full-bodied coin Token coin Representative money Fiat money
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Money 10A Measuring the Money Supply M-1 M-2 Creation of Money Fractional Reserve Banking
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The Financial Market 10B The Financial Market Financial Market Commercial Banks History of Banking in the United States Dual Banking and Regulation Commercial bank and charter
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The Financial Market 10B Functions of Commercial Banks Other Financial Institutions: Thrifts Savings and Loans (S&Ls) pg 199 the S&L Crisis Mutual Savings banks Credit Unions Contractual Savings Institutions
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The Financial Market 10B Finance Companies Investment Companies Personal Finance: Opening and Maintaining a Transaction Account
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