Ch 11 Test – US Banking System: Economics AGS – Flashcards
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The banking system began during the ______.
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Middle Ages
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______ were originally used for money, but they were heavy and hard to handle.
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Silver and gold coins
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______ were so called because they were green on one side and black on the other.
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Greenbacks
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______ means able to be divided.
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Divisible
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______ means having about the same value today.
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Stable
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The ______ set the value of a dollar based on an amount of gold.
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Gold Standard Act
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An overdraft occurs if an account does not have enough money to pay for a ______.
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check
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In a ______ economy, people trade one item for another.
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weak
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In a ______ economy, people exchange goods and services for money.
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money
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One way to give money ______ is to print it on high-quality paper.
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durability
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The U.S. government opened the first ______ in 1792, in Pennsylvania.
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mint
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When early U.S. banks failed, many people were stuck with worthless ______.
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paper money
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One service that banks provide is to ______ funds.
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collect and transfer
