Study the cartoon below, and then answer the following questions. a. Where does Clare

Write a paragraph or two explaining how money and the banking system work in the United States. Use all of the following terms. money barter commodity money representative money fiat money legal tender overdraft checking electronic funds transfer (EFT) automated teller machine (ATM) checking account debit card near moneys money barter commodity money representative money fiat money legal tender overdraft checking electronic funds transfer (EFT) automated teller machine (ATM) checking account debit card near moneys

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create One reason coins make a good medium of exchange is that they are easy to in a purse or a pocket.

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create Banks no longer need to paper money into coin or bullion because paper money has value through a government order.

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create The government has the power to , or supply, currency for use in the United States.

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create The markings on a coin or bill its value in the country in which it was made.

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create The size and shape of coins from country to country.

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create A country cannot simply money; it must be backed up by something of value or it is worthless.

Choose the letter of the term that best completes each sentence. a. indicate b. transport c. convert d. issue e. varies f. consists g. create a. indicate b. transport c. convert d. issue e. varies f. consists g. create Money of currency, checking and savings deposits, and certain other investments.

What is one alternative to using money?

Money should be durable and divisible. What other characteristics should it have?

Is the type of money used in the United States commodity money, representative money, or fiat money? How do you know?

During the Revolutionary War, what caused bills of credit issued by the Continental Congress to become worthless?

Electronic banking is increasingly common today. What forms of this system do most consumers use?

According to the Electronic Funds Transfer Act of 1978, what happens if a persons ATM card is stolen or used illegally?

What are the only denominations of paper currency being issued today by the federal government?

Why were checking accounts formerly called demand deposits?

What is the distinction between money and near moneys?

Fill in a graphic organizer like the one below to show what is included in M1 and M2 when defining the money supply.

The three functions of money are as a medium of exchange, a unit of accounting, and a store of value. Use a chart like the one below to keep track of any time you use money, see money used, or see dollar values written somewhere. Do this for three to five days. Try to determine in each instance what function the money is serving. For example, if you see a headline that says Microsoft Corporation Sales Increased to $10 Billion, you know that money is being used as a unit of accounting.

Create a table like the one below to compare the costs and benefits of engaging in barter to the costs and benefits of using money.

Why are debit cards similar to money, whereas credit cards are not?

The U.S. government is considering discontinuing the production and use of pennies. Do you think pennies should be discontinued? Why or why not?

Study the cartoon below, and then answer the following questions. a. Where does Clare work? How do you know? b. What is the managers concern about what Clare is doing online? c. Why does Clare seem unconcerned with the possibility of identity