Fiscal Policy
change in government spending
what is fiscal policy?
medium of exchange, unit of account, and store of value
What are the 3 functions of money?
The bank for all of the United States Banks.
What is the Federal Reserve?
What is nominal GDP?
Influences the the interest rates
What is open market operations?
increase in government purchases of goods and services
what is expansionary fiscal policy?
used for buying and selling goods
What is medium of exchanger?
Who has control over the Federal Reserve
What is the board of governors?
Burau of economic analysis
Who calculates real GDP?
Market-determined set interest rates
What is Administered Rates?
decrease in government purchases of goods and services
what is contractionary fiscal policy?
used for measuring the relative worth of goods and services
What is unit of account?
Name the location of 3 of 12 Federal Reserve Banks
Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
Provides a more accurate representation of economic growth over time
What is The benefit of Real GDP?
Communications from the central bank on perception of economy and managing monetary policy.
What is Forward Guidance?