ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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all of these
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store of value
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medium of exchange
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portability
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Detailed explanation-1: -Federal Reserve notes are the paper currency circulating in the United States. These are commonly known as dollar bills. The U.S. Treasury prints the Federal Reserve notes, which are backed by the U.S. government. Each note’s lifespan differs according to its denomination.
Detailed explanation-2: -Federal Reserve Notes, also United States banknotes, are the currently issued banknotes of the United States dollar.
Detailed explanation-3: -To legally qualify as currency, a means of payment must be considered as such by the country’s laws and be denominated in its official monetary unit. A currency typically enjoys legal tender status, meaning debtors can pay their obligations by transferring it to creditors.
Detailed explanation-4: -Which statement is true about Federal Reserve System membership? Answers: A. Banks with state charters must join the Fed.