Characteristics of Money
This institution prints all paper money in the United States
The Federal Reserve
A Reserve Requirement is how much of this a bank is required to have on hand.
Liquid (Cash) Money
GDP per capita is the total GDP divided by this.
Population
This is the stage of the Business Cycle in which unemployment is low, new businesses open, and demand is at an all-time high.
Prosperity
The Fed followed this Monetary Policy during COVID, which stimulated the economy but led to record inflation.
Expansionary Monetary Policy
Representative Money
This Monetary Policy is adopted to limit inflation.
Contractionary Monetary Policy
Real GDP is GDP that has been adjusted for this
Inflation
The Business Cycle is measured by two components: GDP Growth Rate & _________________.
Unemployment Rate
This was the largest economic downturn in American History, with an Unemployment Rate of 25% and a GDP Growth rate of -13%
The Great Depression
America followed this system until 1971, which limited the amount of money in circulation to the amount of gold in U.S. vaults.
Gold Standard
This Monetary Policy is adopted when America enters an economic recession and needs a jump-start
Expansionary Monetary Policy
This Component of GDP is the largest and involves all household purchases of goods and services.
Personal Consumption
During a Depression, this measure of the Business Cycle goes negative.
GDP Growth Rate
This economic downturn was caused by a bubble in the housing market that led to mass foreclosures and bank failures.
The Great Recession
This type of money is deemed valubale because the government closely monitors its supply.
Fiat Money
This is the name of the interest rate at which banks get money from the Fed.
Discount Rate
The ture GDP value for each year is called _________ GDP.
Nominal
When charted on a graph, GDP Growth Rate & the Unemployment Rate will often _____________ each other.
Mirror
This event brought America out of the Great Depression. Seeing the record high GDP Growth Rate of 18% and record low Unemployment Rate of 1.2%
World War II
Gold coins and gems are this type of money that has physical value in itself
Commodity Money
The Fed will buy and sell these long-term investments that banks hate to have in their vaults.
Government Bonds
This Component of GDP was -$800 billion in 2023 and subtracts from the American GDP
Net Exports
A healthy Unemployment Rate is below this percentage.
5%
The economic issues of the 1970s can be largely attributed to the embargo on this resource coming into the country.
Oil