Question
1. Determine Central Ideas What is the relationship between the Fed and the Treasury? 2. Draw Inferences Where do the income tax payments that the
1. Determine Central Ideas What is the relationship between the Fed and the Treasury?
2. Draw Inferences Where do the income tax payments that the Treasury receives go?
3. Determine Central Ideas What does the phrase "lender of last resort" mean?
4. Cite Evidence What unusual steps did the Fed take in the 2008 financial crisis? What can you conclude about that financial crisis, compared to earlier difficult economic times, from these actions?
5. Draw Inferences The Lesson says that each bank must report its reserves every day to the Fed, allowing it to monitor the money supply. What other purpose does this reporting serve?
6. Summarize How do higher interest rates affect people's decisions to save or spend their money?
1. This economy deals in bartering, trading, and exchanging money in ____________________ ways.
2. ____________________ can be anything, including sneakers.
3. Basically, we're a sneaker____________________ because we're giving out loans and we're also giving out cash for sneakers. The sneaker is used as collateral for a loan.
4. Understand that underground, what we're talking about here, isn't illegal, just alternative. It's a way around ____________________ that prevents those receiving government benefits from saving money.
5. So, when you take a closer look, you can see sneakers can be used as currency, just like anything else. Done right, and it can be an ____________________.
6. I usually like to have my sneakers only up for five minutes, hopefully they sell within the first ____________________ that we have them, but the max time that I have a sneaker on the wall is a week.
7. Finding new markets, like Chase opening up a new store, can be ____________________.
8. His business is fully legal, and he helps his customers while making a living. He simply operates in an economy where ____________________ people use alternative goods or services as currency because they're unable to use traditional banks.
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