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Economics III Vocab

These flashcards describe the vocabulary of Economics Section III in civics.

QuestionAnswer
A series of economic expansion and contraction Business Cycle
A group of US government programs made in the 1930's The New Deal
The main governing body of the federal reserve system Federal reserve system
central bank regulation Reserve requirments
when a tax rate increases Progressive taxes
when a tax rate decreases Regressive taxes
rivalry among sellers Competition
bond certificates issued by the government Government securities
When the central bank controls the supply of money Monetary policy
the minimum interest rate Discount rate
the total value of goods and services produced Gross Domestic Product
temporary economic decline Recession
increase in products and fall in value Inflation
a long term downturn in economic activity Depression
the total amuont of money Money supply
a deposit of money Demand deposits
a degree of wealth and material comfort Standard of living
a statistic used to find future trend in the economy Economics indicators
the using up of a resource Consumption
done done
Created by: courttnneeyy
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