What is the central banking system of the United States?
Federal Reserve System
100
What two word phrase is the ultimate goal of all actions of the United Nations?
World peace
100
Which of these is a main goal of both the World Bank and the International Monetary Fund?
A. to help improve the economies of member nations
B. to promote democratic reforms in member nations
C. to increase reliance on agriculture in member nations
D. to support educational institutions of member nations
A. help improve the economies of member nations
100
What is the most common source of money to fund entitlement programs in the United States?
Taxpayers
100
What military organization, that the United States belongs to, requires that if one member country is attacked, then all other country members must respond to help?
NATO (collective security)
200
The goal of monetary policy is to fight what two things so that sustainable long-term economic growth can be maintained?
Inflation and recession
200
The "general" group of the United Nations in which each country has one representative is called what?
General Assembly
200
One of the main goals of the IMF (International Monetary Fund) is to stabilize this switching from one country's currency to another.
exchange rate
200
Mr. B dislocated his shoulder playing basketball but can not afford the medical services required to fix his shoulder, what entitlement program does Mr. B qualify for?
Medicaid
200
What type of trade taxes were lessened between the USA, Mexico, Mexico, and Canada when they agreed to NAFTA?
Tariffs
300
The Fed requires individual banks to keep a certain percentage of their money in the bank so they don't get reckless with their money. What is the name of this tool of monetary policy?
Reserve Requirement
300
This group makes up the executive board of the United Nations.
Security Council
300
The World Bank's main mission is to aid what types of countries, who are trying to improve their economies and eliminate poverty?
Developing (Third world) countries
300
What is one main reason that people are arguing for the privatization of social security?
Americans are living longer than ever before
300
Based on the demographics of PG County, if the County Executive had the "opportunity" to spend money on education programs instead of new highways he would be applying what economic concept to his decision?
Opportunity cost
400
When the Fed raises or lowers this tool they are charging a greater or lower interest rate for banks to borrow from them. What is the name of this tool of monetary policy?
Discount rate
400
If the United Nations bans trade with a foreign country because they are upset with how the country is acting, the UN is using what tool of foreign policy to discourage the actions of that country?
Economic sanctions
400
The IMF and World Bank are both examples of what type of "organization" that involves cooperation between two different ruling systems in countries?
IGOs (Inter-Governmental Organizations)
400
Social Security and unemployment insurance are a result of what era of US history in which people needed as much help as they could get?
Great Depression
400
The International Red Cross is an example of what type of "organization" that is not run or sponsored by the heads of countries?
NGO (Non-Governmental Organization)
500
The Fed can put money into the economy by buying government bonds and other securities. They can do the opposite buy selling bonds and securities to take money out of the system. What are these "operations" called?
Open market operations
500
Name all 5 permanent members of the UN executive board (answer to the $300 clue)
USA, United Kingdom, France, China, Russia
500
One of the purposes of the IMF is to correct a country's "BLANK" of payment when their economy is unstable.
Balance of payment
500
At what age do American citizens qualify for Medicare?
65
500
Tax revenue is the money that the government makes when it taxes the people. Name one economic (fiscal or monetary) policy that the USA could take if the tax revenue decreased.
Fiscal: Cut down on spending and funding
Monetary: Expansionary policy