Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome BackgroundsCommunication! Government Spending Unit 3
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Communication Game Board Modern Money Banking Historical Money The Fed National Debt Final Challenge Final Challenge
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 100 Answer Currency by government decree Question? Fiat Money
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 200 Answer Made up of coins and paper money Question?Currency
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 300 Answer Money in the form of coins Question?specie
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 400 Answer List the 3 functions of money Question? Store of value Medium of exchange Measure of value
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 500 Answer To be a medium of exchange money must do these three things Question? Be durable Portable, and divisible
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 100 Answer A brief period during which every bank in the US had to close Question? Bank Holiday
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 200 Answer List 2 problems in banking prior to the Civil War Question Banks printed their own money, wildcat banks printed large amounts of money, banks issued more currency than they could back
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 300 Answer The system that functions as the Central bank of the US Question? Federal Reserve
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 400 Answer Populists wrote the Wizard of Oz in hopes of converting the country to this type of backing. Question? Silver Standard
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 500 Answer Under what standard does the US currently operate? Question? Unconvertible Fiat Standard
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 100 Answer Named for the color of ink used to print it Question?Greenback
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 200 Answer Early colonists used this as commodity Question?Tobacco
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 300 Answer Money by government decree Question Fiat money
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 400 Ingots or bars of precious metals QuestionBullion
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 500 Answer This island culture uses large round stones as a medium of exchange Question Yapese or Yap
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 100 Answer The closest Federal Reserve bank to us is in QuestionKC
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 200 Answer How many Federal Reserve Banks are there in the US 12
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 300 How long is a board member’s term? 14 years
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 400 Who is the chair person of the Fed? Ben Bernanke
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 500 What year was the Fed created? 1914
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 100 Broad social programs for eligible individuals entitlements
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 200 Budget with neither a surplus or a deficit Balanced Budget
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 300 Spending in excess of revenues collected Deficit spending
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 400 Between the 1960’s and 1990’s, which decade did the government begin significant deficit spending 80’s
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 500 The amount borrowed to finance deficit spending Federal debt
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Final Challenge! List three ways the Fed controls the money supply Selling and buying securities, required reserves, interest rates Write Your Final Challenge Wager