Chapter 15

Question 1

What is money?

Answer 1

anything of value that is accepted in return for goods or services; currency

Question 2

What is banknote?

Answer 2

is a document guaranteeing payment of a specific amount of money; payer named on document

Question 3

What is security

Answer 3

is a financial investment issued by a corporation, government, or other organization

Question 4

What is Government bond?

Answer 4

is a security that pays interest over terms of 10 to 30 years

Question 5

What is a treasury note

Answer 5

is a security that pays interest over terms ranging from two to 10 years

Question 6

What is treasury bill

Answer 6

is a security that matures in a year or less

Question 7

What is a medium of exchange

Answer 7

Money is used in exchange for goods and services needed by individuals, businesses, and governments

Question 8

What is unit of value

Answer 8

Money is a common measure of the worth or price of a good or service

Question 9

What is store of value

Answer 9

Money can be saved and used at a later date