Monetary Policy
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| The rate the Federal Reserve charges for loans to commercial banks. | discount rate
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| The interest rate banks charge each other for loans. | federal funds rate
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| The process by which banks record whose account gives up money and whose account receives money when a customer writes a check. | check clearing
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| The Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money supply. | Federal Open Market Committee (FOMC)
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| The 12 banking regions created by the Federal Reserve Act. | Federal Reserve Districts
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| The actions the Federal Reserve takes to influence the level of real GDP and the rate of inflation in the economy. | monetary policy
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| The seven member body that oversees the Federal Reserve System. | Board of Governors
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| The process by which money enters into circulation. | money creation
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| The ratio of reserves to deposits required of banks by the Federal Reserve. | required reserve ratio (RRR)
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| The amount of new money that will be created with each demand deposit, calculated as 1/RRR. | money multiplier formula
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| The rate of interest banks charge on short-term loans to their best customers. | prime rate
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| The buying and selling of government securities to alter the supply of money. | open market operations
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| The monetary policy that increases the money supply. | easy (loose) money policy
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| The monetary policy that reduces the money supply. | tight money policy
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Created by:
amarkovich
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