Currency and Checkable Deposits Are

question 85

Multiple Choice

Currency and checkable deposits are

• A) assets of the Federal Reserve Banks or of financial institutions.
• B) redeemable for gold and silver from the Federal Reserve System.
• C) of intrinsic value, which determines the relative worth of money.
• D) the major components of money supply M1.

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Definitions:

Fossil Record

The collection of fossils, which serves as historical documentation of past life on Earth.

Stone Tools

Prehistoric tools made from stone by early humans, used in hunting, cutting, and as weapons.

Mammals

Warm-blooded vertebrates characterized by the presence of mammary glands which females use to nurse their young, fur or hair, and three middle ear bones.

Characteristics

Features or qualities distinguishing a person, object, or phenomenon from others.