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[Economics] 10.3

The amount of money borrowed
principal
What is a credit union?
a cooperative lending institution for a particular group
How does a bank make most of its profit on its business?
by paying out less interest on deposits than it earns in interest on loans
A specific type of loan that is used to buy real estate
mortgage
The ability to be used as, or directly converted to, cash
liquidity
The money supply of a country is made up of which of the following?
all the money available in an economy
The money in checking accounts
demand deposit
Failure to pay back a loan
default
All the money available in an economy
money supply
Person or institution to whom money is owed
creditor
The price paid for the use of borrowed money
interest

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