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100
Externality
The unintended side effect of an action
100
Inflation
The general and consistant rise of most products in a merket.
100
Discount rate
The rate that the Fed charges other commercial banks for loans.
100
WIC
A federal welfare program that provides nutrition and healthcare to low-income women, infants, and children.
100
The Federal Reserve
The central bank of the United States.
200
Private goods
Goods that cannot be comsumed by more than one person.
200
Civilian labor force
All workers aged 16 and up (including those looking for work).
200
Certificate of deposit (CD).
A deposit of a certain amount of money that will grow with interest over a specified period of time.
200
Currency
Both paper and metal money.
200
Open market operations
The purchase or sale of US Government bonds as a way of changing the money supply.
300
Merger
The combination of two or more companies to create a single business.
300
Unemployment rate
A percentage measure of all unemployed people (including those looking for work).
300
Consumer price index
A popular measure of the price level. Used to measure inflation.
300
Commercial banks
Financial institutions that offer full banking services to anyone.
300
Fiscal policy
The chaged that the Fed uses to stimulate or slow down the economy.
400
Monopoly
The sole provider of a good or service.
400
Workfare
A type of welfare in whicha person is required to work for charity.
400
Progressive income tax
Tax at lower incomes is lower, tax at higher incomes is higher.
400
Credit Union
A bank that is more exclusive and usually only serves people that are a member of a certain group
400
Business cycle
The principle that businesses do not grow or shrink linearly, they fluctuate with the changing market and reflect that market appropriately.
500
Real GDP
The economy's production after adjustments for inflation and deflation.
500
Earned income tax credit
A tax credit given to qualifying people, typically giving them an income tax break.
500
Food stamp
A welfare program aimed toward helping struggling families provide food for themselves.
500
FDIC
A national corporation that insure individual accounts for up to $100,000.
500
Coins
Metallic forms of money, such as pennies and nickels.