Question: Money is a ______ of some item or group of items.

Answer: Stock

Question: M1 is a component of the U.S. ______.

Answer: Money supply

Question: What is the money in the form of currency and checkable deposits in commercial banks called?

Answer: M1

Question: The amount of goods and services a unit of money will buy is called ______.

Answer: Purchasing power

Question: Which two of the following are necessary for price level stability?

Answer: Intelligent management of the money supply, careful management of interest rates

Question: Because people accept them a money, ______ and ______ deposits are money.

Answer: currency; checkable

Question: The 12 Federal Reserve Banks are quasi-public banks, which blend ______ , Correct Unavailable ownership and public control.

Answer: Private

Question: Why are currency and checkable deposits money?

Answer: Because they are widely accepted by people

Question: True or false: Commercial state banks are private banks chartered by the individual states to operate within those states.

Answer: True

Question: Which of the following contributed to high default rates on mortgages during the financial crisis of 2007 and 2008?

Answer: Loan applicants claiming untruthfully high earnings