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Unit 7B Vocab
| Term | Definition |
|---|---|
| government desisions regarding the taxes citizen must pay and the amount of money the government spends | Fiscal Policy |
| a general rise in prices throughout the economy | Inflation |
| the quality of life measuered by the amount of goods and services people can buy and the leisure time they have | Standard of Living |
| statistical tools used to measure theconditions of the nations economy | Economic Indicators |
| the wealthy pay of a greater share than the less well off | Progressive Taxes |
| consists of cash, checking accounts, and travelers checks | Money Supply |
| mostly checking accounts | Demand Deposits |
| everyone regardless of wealth pays the same amount | Regressive Taxes |
| actions by the federal reserveto influence the economy by regulating the amount of money in circulation | Monetary Policy |
| the ups and downs in an economy over a period of time | Business Cycle |
| the total valuein dollars of all goodsand services produced in th ecountry in one year | Gross Domestic Product |
| a period on the business cycle marked by low economic activity, reduced prices and rising unempoyment | Recession |
| a severe ressession lasting more than a year | Depression |
| government programs instituted by Franklin D. Roosevelt to rescue the country from the great deppression | The New Deal |
| established the federal income tax | 16th Ammendment |
| property owned by individuals and businesses without government interference | Private Property |
| rivalry between producers of goods and services | Competition |
| saving bonds, treasury notes, and treasury bills the | Government Securities |
| The combining human, natural, and capital resources along with managment to make goods and services | Production |
| Things to motivate or change in economic behavior | Incentives |
| The nations banking system designed to regulate federal monetary policy | Federal Reserve System |
| The minimum amount of money the Federal Reserve requires member banks to keep | Reserve Requirement |
| Using goods and services | Consumption |
| interest rate charged to member banks that borrow money from the "FED" | Discount Rate |
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EmmaG557
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