Prepared By Executive Branch, Approved By Legislative Branch, and Signed By the President (Executive Branch)
How is the Federal Budget Prepared?
100
It is the Central Bank of the United States
What is the Federal Reserve System?
100
Store of Value
What is the Function of Money When It Is Saved and Used Later
200
Expansionary Monetary Policy
What Monetary Policy Would Be Set During a Recessionary Period?
200
Executive and Legislative Branches
Who is Responsible for Fiscal Policy?
200
Budget Deficit
What Happens When Spending is Greater Than Revenues?
200
The Board of Governors
What Group Presides Over the Federal Reserve System?
200
Progressive--Income Tax
Which Tax Increases As a Person's Income Increases? Give an Example.
300
Contractionary Monetary Policy
What Monetary Policy Would Be Set During an Inflationary Period?
300
Raising Taxes and Cutting Government Spending
What Fiscal Policy Would the Government Set In An Infllationary Period?
300
Budget Surplus
What Haappens When Revenues Exceed Spending
300
Federal Open Market Committee
What Part of the Fed is Responsible for Monetary Policy?
300
Proportional--Property Tax
Which Tax Do People Pay the Same Rate? Give an Example.
400
Raisinng the Discount Rate, the Reserve Requirement, the Interest on Reserves, and Selling Government Securities (All Reduce the Amount of Money Banks Have to Loan)
What Would the Fed Do to Implement a Contractionary Monetary Policy?
400
Lowering Taxes and Increasing Government Spending
What Fiscal Policy Would the Government Set During an Inflationary Period?
400
Balanced Budget
What Happens When Revenues and Spending Are Equal?
400
Medium of Exchange
What is the Function of Money When It Is Used to Buy Something?
400
Regressive Tax--Sales Tax
Which Tax Takes a Greater Portion of a Low Income Person's Income? Give an Example?
500
Lowering the Reserve Requirement, the Discount Rate, the Interest on Reserves, and Buying Government Securities/Bonds
What Would the Fed Do to Implement An Expansionary Fiscal Policy?
500
More Money To Spend
What Does Cutting Taxes Give People?
500
It Makes the National Debt Larger?
What Effect Does a Budget Deficit Have on the National Debt?
500
Unit of Value
What is the Function of Money When It is Used to Determine the Worth of Something?