This type of unemployment will always exist in the United States economy
What is natural
100
There are ______ Federal Reserve Districts in the United States
What is 12
100
The United States had a balanced budget until
What is 1929, the Great Depression
200
The first bankers
What is goldsmiths
200
Inflation does this to the standard of living for people on fixed incomes
What is reduces
200
This type of employment requires you to develop new skills
What is structural unemployment
200
One function of the Federal Reserve is
What is check clearing, supply paper money, audit member banks, control the money supply, hold bank reserves
200
The Federal budget is prepared by _______________ and approved by _______________
What is President and Congress
300
In order for the barter system to work there is a need for
What is double coincidence of wants
300
The definition of inflation says there is an increase in the ___________ level of prices
What is average
300
This type of unemployment requires you to find another job but your skills are still useful
What is frictional unemployment
300
The Federal Reserve is controlled by a Board of Governors who are appointed by ________________ and approved by ______________.
What is President and Senate
300
A progressive tax system makes individuals pay
What is more taxes as income rises
400
An example of near money is
What is savings account, insurance policy
400
To combat high inflation the Federal Reserve will ________________ the money supply
What is contract or reduce
400
These two types of unemployment make up "natural unemployment
What is structural and frictional
400
The Federal Reserve can control the money supply by
What is change reserve requirement, change discount rate or have open market sale
400
The current national debt
What is 15 Trillion
500
The three functions of money are
What is Medium of Exchange, Store of Value, Unit of Account
500
inflation can occur on the _______________ and ______________ of the economy
What is demand side and supply side
500
The current unemployment rate in Colorado is approximately
What is 8.6%
500
The interest rate the Federal Reserve charges banks is called _______________ and the interest rate banks charge each other is called__________________
What is discount rate and federal funds rate
500
The federal budget must be approved on (date)____. The last day of the federal budget year is__________.