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K. Lerchie Vocab, 3
K. Lerchie's Midterm Vocabulary Continued Continued
| Question | Answer |
|---|---|
| Salary | what you get paid yearly |
| Wage | what you get paid hourly |
| Market Economist | a capitalist who makes decisions individually with little or no government help |
| Market Structure | the structure of an economy (socialist, communist, capitalist, command) |
| Contract Obligations | whatever is written in the contract |
| Full Employment | 5% or less unemployment |
| Federal Reserve | the central bank of the United States, 12 regional reserve banks, we are in the Dallas region |