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Stack #4664933

QuestionAnswer
paid employees, self-employed, and unpaid workers in a family business employed
people not working who have looked for work during previous 4 weeks unemployed
% of the adult population that is in the labor force labor-force-participation rate
normal rate of unemployment around which the actual unemployment rate fluctuates natural rate of unemployment
deviation of unemployment from its natural rate cyclical unemployment
occurs when workers spend time searching for the jobs that best suit their skills and tastes frictional unemployment
occurs when there are fewer jobs than workers structural unemployment
changes in the composition of demand across industries or regions of the country sectoral shifts
the exchange of one good or service for another barter
the yardstick people use to post prices and record debts unit of account
an item that buyers give to sellers when they want to purchase goods or services medium of exhcange
the quantity of money available in the economy money supply
an item that people can use to transfer purchasing power from the present to the future store of value
the paper bills and coins in the hands of the public currency
the ease with which an asset can be converted into the economy's medium of exchange liquidity
money that takes the form of a commodity with intrinsic value Commodity money
money without intrinsic value that is used as money by government decree fiat money
balances in bank accounts that depositors can access on demand by writing a check demand deposits
deposits that banks have received but have not loaned out reserces
the amount of money the banking system generates with each dollar of reserves money multiplier
a government regulation specifying a minimum amount of bank capital capital requirement
regulations on the minimum amount of reserves that banks must hold against deposits reserve requirement
the setting of money supply by policymakers in the central bank monetary policy
the resources a bank's owners have put into the institution bank capital
the fraction of deposits that banks hold as reserves reserve ratio
a banking system in which banks hold only a fraction of deposits as reserves fractional-reserve banking
the central bank of the United States Federal Reserve
an institution designed to oversee the banking system and regulate the quantity of money in the economy Central Bank
refers to how much wealth people want to hold in liquid form money demand
the proposition that changes in the money supply do not affect real variables neutrality of money
is determined by the Fed, the banking system, and consumers money supply
revenue the government raises by creating (printing) money inflation tax
the rate at which money changes hands velocity of money
resources wasted when inflation encourages people to reduce their money holdings shoeleather costs
Created by: user-2036256
 

 



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