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chapter 24 Test

Enter the letter for the matching Definition
incorrect
1.
savings and loan association
incorrect
2.
discount rate
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3.
credit union
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4.
reserve
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5.
certificate of deposit
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6.
coin
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7.
federal open market committee FOMC
A.
metallic form of money such as pennies nickels and dimes
B.
timed deposit that states the amount of the deposit maturity and the rate of interest being paid
C.
the interest rate the fed charges on loans
D.
nonprofit service cooperative that accepts deposits makes loans and provides other financial services
E.
financial institution that traditionally loaned money to people buying homes
F.
the most powerful committee of the fed because it makes the decisions that affect the economy as a whole by manipulating the money supply
G.
a certain percentage of deposits that banks have to set aside as cash in their own vaults or as deposits in their federal reserve bank
Type the Term that corresponds to the displayed Definition.
incorrect
8.
purchase or sale of us government bonds and treasury bills
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9.
an institution that lends money to other banks also the place where the government does its banking business
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10.
an account in which deposited money can be withdrawn at any time by writing a check
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11.
an account in which consumers receive interest based on how much money they have deposited
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12.
both coins and paper money
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13.
a financial institution that offers full banking services to individuals and businesses
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14.
policy that involves changing the rate of growth of the money supply in circulation in order to affect the cost and availability of credit

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Created by: ColeGillespie
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