Money printed a fiat currency issued Greenbacks during Civil War during the American that eventually Civil War became worthless A physical document Gold resembling a bank A piece of paper certificates note that entitles the that says you own holder to a specified gold value of gold Former legal tender Silver (paper currency) A piece of paper certificates issued by the U.S. that says you own government beginning silver in 1878 paper currency issued Treasury coin Money that you by the Treasury that notes could trade for was redeemable in gold or silver both gold and silver A monetary system in which a country's A concept where government allows its Gold standard money is currency unit to be by (equal to) an freely converted into amount of gold fixed amounts of gold and vice versa paper currency backed Federal by fiat money (govt Reserve notes Dollar declaration that they were legal) US currency banknotes issued National Bank by National banks backed by notes usually backed by US bonds US bonds the bank in the Treasury Funds held in an Demand account from which deposited funds can be deposit Checking or withdrawn at any time savings accounts accounts without any advance notice to the depository institution Federal Made of Reserve central bank of the committee that System United States discusses economic issues The entity responsible Main bank for overseeing the Central bank (like Fed Reserve) monetary system for a that monitors nation (or group of economy nations) a commercial bank chartered by the National banks Private banks that comptroller of the US govt monitors currency of the U.S. Treasury
Greenbacks a fiat currency issued during the American Civil War Money printed during Civil War that eventually became worthless Gold certificates A physical document resembling a bank note that entitles the holder to a specified value of gold A piece of paper that says you own gold Silver certificates Former legal tender (paper currency) issued by the U.S. government beginning in 1878 A piece of paper that says you own silver Treasury coin notes paper currency issued by the Treasury that was redeemable in both gold and silver Money that you could trade for gold or silver Gold standard A monetary system in which a country's government allows its currency unit to be freely converted into fixed amounts of gold and vice versa A concept where money is by (equal to) an amount of gold Federal Reserve notes paper currency backed by fiat money (govt declaration that they were legal) Dollar National Bank notes US currency banknotes issued by National banks usually backed by US bonds the bank in the Treasury backed by US bonds Demand deposit accounts Funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution Checking or savings accounts Federal Reserve System central bank of the United States Made of committee that discusses economic issues Central bank The entity responsible for overseeing the monetary system for a nation (or group of nations) Main bank (like Fed Reserve) that monitors economy National banks a commercial bank chartered by the comptroller of the currency of the U.S. Treasury Private banks that US govt monitors
econ_key_terms.docx