Review Questions 1
1. Explain the difference between representative money and fiat money.

Fiat money is money that is printed like paper money or coins. Representative, on the other hand, is different. It represents something of value. This could be checks or tokens.

2. Chart Skills Which are the three functions of money?
1. Medium of Exchange: This function is a trade between a buyer and a seller. The buyer could give food, tobacco, or money.
2. Unit of Amount: This function is measuring the value of something in its currency like money.
3. Store of Values: This function uses assets that can be saved, traded, and sold. It normally uses money, commodity, or any rare metals like gold or silver.

Review Questions 2
1. What is the purpose of the Federal Deposit Insurance Corporation
The purpose of it is to ensure customers’ deposits if any bank falls.

2. Chart Skills What events led to the creation of the Federal Reserve System?
Panic of 1907
1780’s Federalists And Antifederalists disagree about a banking system.
Civil War makes it clear the need for a better monetary system and banking system.

Explanation:

Fiat money has no intrinsic value, while legal tender is any currency declared legal by a government. Governments can issue fiat currency and make it legal tender by setting it as the standard for debt repayment.

1)The money has value because the government says it does. ... Fiat money is physical money backed by a government and is considered legal tender. Representative money is backed by a physical commodity such as precious metals or instruments like checks and credit cards.

Review question 2

1)The FDIC, or Federal Deposit Insurance Corporation, is an agency created in 1933 during the depths of the Great Depression to protect bank depositors and ensure a level of trust in the American banking system.

PLEASE GIVE ME AS BRAINLIEST

pacal the great: the throne was passed on to pacal through a female; as a result, he believed that he must legitimize his claim to the throne to add stability to his reign.

as a result, the daughter of ac kan's brother ruled until her son, pacal, reached an age old enough to assume the throne.

pacal the great became the king of the mayan city of palenque in a different way than most mayan kings.

pacal pointed out that ac kan had succeeded his mother as ruler, thereby establishing a precedent for the rule to pass through a female.  

he tried to justify that the way he gained the throne by connecting his mother with the divine mother and the mythological events that happened during the creation of the world.  

typically, the son of a male mayan ruler inherited the throne, but in 612 ce, king ac kan died and did not leave behind a male heir.

montezuma 1: even so, these wars of conquest failed to provide enough human sacrifices and because of this, he formed a triple alliance with cities in the valley of puebla-tlascala.  

in addition, montezuma realized that his government failed to the aztecs during the famine.

in order to appease him, montezuma increased the number of human sacrifices.

the aztec performed human sacrifices to their god huitzilopotchli because they believed he desired human blood.  

around 1440 ce, montezuma i became the fifth emperor of the aztecs and went on to rule for 28 years.  

soon after he assumed the throne, the aztecs were hit with a series of disasters, namely a plague of locusts, a flood, and a harsh frost  

huayna capac: huayna capac also fought to gain territories north of his empire in what is now ecuador.  

huayna capac significantly extended the inca empire to the south, into what is now argentina and chile.  

in 1493 ce, huayna capac became the eleventh ruler of the inca empire.  

huayna, therefore, wanted to gain his own lands and launched campaigns against tribes to the east and north of the empire.  

the inca empire reached its peak under the rule of huayna capac.

during this time the empire covered a vast territory including parts of present day colombia, peru, argentina, chile, bolivia, and ecuador.

during his reign, huayna heard about bearded men with pale skin that resembled the incan1 god viracocha and took this news as a bad omen.

huayna took this as another bad omen that predicted the destruction of the empire.