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| Money is anything that functions as a medium of exchange, store of value, unit of account and standard of __________ payment. |
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| The "unit of account" function that money performs relates to the use of money as a measure of ________. |
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| Money functions most importantly as a medium of exchange because it is widely accepted as a form of _________. |
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| Money ______ is the amount of money in existence at a particular point in time. |
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| Income refers to _______ in a given period. |
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| The US Federal Reserve uses M1, M2, and M3 to measure money ______. |
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| The M1 money aggregate consists of currency, travelers' checks and transaction ________. |
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| The three types of transaction deposits are demand deposits, negotiable-order-of-__________ accounts and automatic-transfer-system (ATS) accounts. |
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| The M2 money aggregate consists of the elements in M1, as well as _________ deposits (this would include money market accounts from which no checks can be written), small denomination time deposits (where small is less than $100,000), retirement accounts. |
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| _____ money is an asset that meets almost all the requirements of the functions of money. |
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| ___________ money is a good, such as gold coins or shells, which is used as though it is money. |
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| Full-bodied commodity money means the good used as money is _______ as money, and fully-backed commodity money refers to certificates which are fully redeemable against the commodity used as money. |
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| _____ money is money that has small use as a commodity, but is accepted because the government has authorized it. |
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| When a government declares that their money be accepted for payments of debt then it becomes legal _______. |
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| The main advantage of using money rather than bartering for goods and services that the former enables increased levels of ______ and consumption. |
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| A financial market can be categorized as either a ________ market or a financial intermediaries market |
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