Money & Banking
GDP & Growth
Taxes
The Federal Reserve
International Trade
100
A financial institution is another name for
What is Banks
100
The dollar value of all final goods and services produced withinin a country's borders in a given year
What is GDP (Gross Domestic Product)
100
This limits the power Congress has to tax
What is The Constitution
100
This group runs the Federal Reserve System
What is board of governors
100
The ability to produce more of a given product using a given amount of resources
What is absolute advantage
200
It becomes harder to borrow money when banks ____ rates
What is raise rates
200
The period of economic growth measured by a rise in GDP
What is expansion
200
A tax for which the percentage of income paid in taxes remains the same for all income levels
What is proportional
200
Issuing currency is an example of this Federal Reserve function
What is serving the government
200
The ability to produce a product most efficiently given all the products ti could choose to produce.
What is comparative
300
This occurs when Americans place more money in savings rather than spending it.
What is inflation
300
The height of economic expansion
What is peak
300
A tax for which the percentage of income paid in taxes increases as income increases
What is progressive
300
Clearing checks is an example of this function of the Federal Reserve
What is Serving banks
300
Eliminating tariffs and trade barriers between Mexico, the US, & Canada are goals of
What is NAFTA
400
The moneyary system in which paper money and coins are equal to the value of a certain amount of gold
What is gold standard
400
An economic decline
What is contraction
400
A tax for which the percentage of income paid in taxes decreases as income increases
What is regressive
400
Bank examinations are an example of this Federal Reserve function
What is regulating the banking system
400
A regional trade organization made up of European nations
What is EU (European Union)
500
Durability, portability, divisibility, uniformity, limited supply, and acceptability are all
What is characteristics of money
500
When the economy has bottomed out, the lowest point in economic contraction
What is trough
500
Social security, unemployment, medicare, and welfare are paid for by
What is federal taxes
500
Stabilizing the economy is an example of this Federal Reserve function
What is regulating money supply
500
Unequal resource distribution, specialization, differing economic activity, & geographic and human factors are all
What is reasons for trade
M
e
n
u