WGU - D089 Principles of Economics Exam Questions with Correct Answers 100% Verified By
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Double Coincidence of Wants A situation in which 2 people each want some good or service
that the other person can provide.
Medium of Exchange Whatever is widely accepted as a method of payment
Store of Value Something that serves as a way of preserving economic value they could be
spent or consumed in the feature.
Standard of Deferred Payment Money must also be acceptable to make purchases today
that will be paid in the future
Money Whatever serves societee in for functions as a medium of exchange a store of value
a unit of account and a standard of deferred payment
Commodity Money An item that is used as money but which also has value from its use as
something other than money
Commodity Back Currencies Dollar bills or other currencies would values backed up by gold
or another commodity
Money Supply The total amount of money (bills coins loans credit and other liquid
instruments) in a particular economy
Hyperinflation Rapid excessive and out of control price increases in an economy.
Flat Money Has no intrinsic value but it's declared by a government to be the legal tender of
a country.
,Federal Reserve The central bank of the United States run by a 7 member board of
governors and conjunction with 12 regional federal reserve banks
Central Bank The principal monetary authority of a country or monetary Union it normally
regulates to supply of money issues currency and controls interest rates
Credit Card Immediately transfers money from the credit card companies checking account
to the seller at the end of the month the user owes the money to the credit card company a
credit card is a short term loan.
Asset Something or someone of any value any portion of one's property or effects so
considered
Deposits (Demand) Chuckable deposit in banks that if available by making a cash withdraw
or writing a check
M1 Money Supply A narrow definition of the money supply then includes currency and
checking account and banks and to a lesser degree traveler's checks
M2 Money A definition of the money supply that includes everything and in one but also
adds savings deposits money market funds and certificates of deposit
Deposits Account dead the deposit or has committed to leaving in the bank voice certain
period of time in exchange for a higher rate of venturous also call certificate of deposit
Money Market Funds The deposit of many investors are poor together and invested in a
Safeway like short term government bonds
, Coins and Currency in Circulation The coins and bills that circulate in an economy that are
not held by the US Treasury at the federal reserve bank or in bank vaults
Savings Deposits Bank account where you can not withdraw money by writing a check but
can withdraw the money at a bank or transfer easily to a checking account
Debit Card Like a check it is in instruction to the user's bank to transfer money directly and
immediately from your bank account to the seller
Interest Rates The percentage of an amount of money charged Ford's use per some period
of time
Smart Card Stores a certain value of money on a card and then the card can be used to
make purchases
Reserve Bank holdings of deposit in account with their central bank plus currency as
physically Hill and the banks of balls
Reserve Requirement The percentage amount of its total deposits that a bank is legally
obligated to either hold as cash and into wall or deposit with the central bank
Monetary Policy All of the federal reserve actions that change the money supply with the
gold of curbing inflation or reducing economic stagnation or recession
Open Market Operations The central bank selling or buying Treasury bonds to influence the
quantity of money and a level of interest rates
Discount Rate The minimum interest rate set by the federal reserve for lending to other
banks
Experts| Latest Update Guaranteed Success
Double Coincidence of Wants A situation in which 2 people each want some good or service
that the other person can provide.
Medium of Exchange Whatever is widely accepted as a method of payment
Store of Value Something that serves as a way of preserving economic value they could be
spent or consumed in the feature.
Standard of Deferred Payment Money must also be acceptable to make purchases today
that will be paid in the future
Money Whatever serves societee in for functions as a medium of exchange a store of value
a unit of account and a standard of deferred payment
Commodity Money An item that is used as money but which also has value from its use as
something other than money
Commodity Back Currencies Dollar bills or other currencies would values backed up by gold
or another commodity
Money Supply The total amount of money (bills coins loans credit and other liquid
instruments) in a particular economy
Hyperinflation Rapid excessive and out of control price increases in an economy.
Flat Money Has no intrinsic value but it's declared by a government to be the legal tender of
a country.
,Federal Reserve The central bank of the United States run by a 7 member board of
governors and conjunction with 12 regional federal reserve banks
Central Bank The principal monetary authority of a country or monetary Union it normally
regulates to supply of money issues currency and controls interest rates
Credit Card Immediately transfers money from the credit card companies checking account
to the seller at the end of the month the user owes the money to the credit card company a
credit card is a short term loan.
Asset Something or someone of any value any portion of one's property or effects so
considered
Deposits (Demand) Chuckable deposit in banks that if available by making a cash withdraw
or writing a check
M1 Money Supply A narrow definition of the money supply then includes currency and
checking account and banks and to a lesser degree traveler's checks
M2 Money A definition of the money supply that includes everything and in one but also
adds savings deposits money market funds and certificates of deposit
Deposits Account dead the deposit or has committed to leaving in the bank voice certain
period of time in exchange for a higher rate of venturous also call certificate of deposit
Money Market Funds The deposit of many investors are poor together and invested in a
Safeway like short term government bonds
, Coins and Currency in Circulation The coins and bills that circulate in an economy that are
not held by the US Treasury at the federal reserve bank or in bank vaults
Savings Deposits Bank account where you can not withdraw money by writing a check but
can withdraw the money at a bank or transfer easily to a checking account
Debit Card Like a check it is in instruction to the user's bank to transfer money directly and
immediately from your bank account to the seller
Interest Rates The percentage of an amount of money charged Ford's use per some period
of time
Smart Card Stores a certain value of money on a card and then the card can be used to
make purchases
Reserve Bank holdings of deposit in account with their central bank plus currency as
physically Hill and the banks of balls
Reserve Requirement The percentage amount of its total deposits that a bank is legally
obligated to either hold as cash and into wall or deposit with the central bank
Monetary Policy All of the federal reserve actions that change the money supply with the
gold of curbing inflation or reducing economic stagnation or recession
Open Market Operations The central bank selling or buying Treasury bonds to influence the
quantity of money and a level of interest rates
Discount Rate The minimum interest rate set by the federal reserve for lending to other
banks
