Term
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Definition
| a commone unit for measuring how much something is worth |
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Term
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Definition
| anything acceptable as payment for goods and services |
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Term
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Definition
| the monetary authority of the United States, charged with creating and regulating the nation's supply of money (all bank's bank) |
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Term
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Definition
| something that serves a means of payment by government declaration |
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Term
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Definition
| an asset widely accepted as a means of payment |
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Definition
| the total amount of money held by the public |
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Term
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Definition
| the property of being easily converted into cash |
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Term
| cash in the hands of the public |
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Definition
| currency and coins held outside of banks |
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Term
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Definition
| checking accounts that do not pay interest |
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Term
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Definition
| a standard measure of the money supply, including cash in the hands of the public, checking account deposits, and travelers checks |
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Definition
| M1 plus savings account balances, retail money market mutual fund balances, and small time deposits |
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Term
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Definition
| a business firm that specializes in brokering between savers and borrowers |
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Term
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Definition
| a financial statement showing assets, liabilities, and net worth at one point in time |
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Term
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Definition
| a promise to pay back borrowed funds, issued by a corporation or government agency |
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Term
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Definition
| an agreement to pay back borrowed funds, signed by a household or noncorporate business |
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Definition
| vault cash plus balances held at the Fed |
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Term
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Definition
| the minimum amount of reserves a bank must hold, depending on the amount of its deposit liabilities |
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Term
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Definition
| the minimum fraction of checking account balances that banks must hold as reserves |
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Term
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Definition
| the difference between assets and liabilities |
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Term
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Definition
| a nation's principal monetary authority responsible for controlling the money supple |
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Term
| Federal Open Market Committee (FOMC) |
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Definition
| a committee of Federal Reserve officals that establishes U.S monetary policy |
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Term
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Definition
| the interest rate the Fed charges on loans and banks |
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Term
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Definition
| purchases or sales of bonds by the Federal Reserve System |
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Term
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Definition
| reserves in excess of required reserves |
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Term
| demand deposit multiplier |
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Definition
the number by which a change in reserves is multiplied to determine the resulting change in the demand deposits
1
RRR |
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Term
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Definition
| an attempt by many of a bank's depositors to withdrawl their funds |
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Term
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Definition
| a situation in which depositors attempt to withdraw funds from many banks simultaneoulsy |
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