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Home Page Social Science Business Chapter 20: Economics Flashcards

Chapter 20: Economics Flashcards

Lisa Currey
19 May 2022
10 test answers
slide 1 of 10
question
__________ occurs when goods are traded directly for other goods.
answer
barter
1 of 10

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question
__________ occurs when goods are traded directly for other goods.
answer
barter
question
__________ represents the most commonly used definition of the money supply.
answer
M-2
question
Open-market operations involve:
answer
the buying and selling of bonds.
question
The banking panic of 1907 and the resulting cash shortage led to the formation of the:
answer
Federal Reserve System.
question
Traditionally, banks provide loans to individuals and companies according to the recipient's _____________.
answer
creditworthiness
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question
Which of the following represent an independent agency of the U.S. government that insures bank deposits?
answer
Federal Deposit Insurance Corporation
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question
The ________ provides the same results as a check because it withdraws funds from a checking account.
answer
debit card
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question
A __________ represents an agreement by a bank to pay a foreign company a given amount if certain conditions are met.
answer
letter of credit
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question
The World Bank provides funding for:
answer
projects to improve the standard of living in less-developed nations.
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question
Which of the following represents a benefit of coins over paper money?
answer
Improved durability
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.