unit 7b vocabulary
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Fiscal Policy | Government decisions regarding taxes citizens must pay and the amount of money the government spends
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| Inflation | A general rise in prices throughout the economy
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| Standard of Living | The Quality of life measured by the amount of goods and services people can buy and the leisure time they have
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| Economic Indicators | Statistical tools used to measure the condition of the nation’s economy
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| Progressive Taxes | The wealthy pay a greater share than the less well off
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| Money Supply | Consists of cash, checking accounts, and travelers checks
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| demand deposits | Mostly checking accounts
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| Regressive Taxes | Everyone regardless of wealth pays the same amount
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| Monetary Policy | Actions by the Federal Reserve to influence the economy by regulating the amount of money in circulation
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| Business Cycle | The ups and downs of the economy over a period of time
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| Gross Domestic Product | The total value in dollars of all goods and services produced in the country in one year
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| Recession | A period on the business cycle marked by low economic activity, reduced profits, and rising unemployment
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| Depression | A severe recession lasting longer than a year
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| The New Deal | Government programs instituted by Franklin D. Roosevelt to rescue the country from the great depression
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| 16 th Amendment | Established the Federal Income Tax
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| Private Property | Property owned by individuals and businesses without government interference
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| Competition | Rivalry between producers/sellers of goods and services
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| Government Securities | Savings bonds, treasury notes, and treasury bills the US sells as a way to borrow money
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| production | The combining of human (labor), natural (land), and capital resources along with management to make goods and services
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| Incentives | Things that motivate or change economic behavior
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| Federal Reserve System | The nation’s baking system designed to regulate federal monetary policy
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| Reserve Requirement | The minimum amount of money the Federal Reserve requires member banks to keep on hand
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| Consumption | Using goods and services
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| Discount Rate | Interest rate charged to member banks that borrow money from the “FED”
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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