2nd/5th six weeks CBA Review

What is represented by the line?

The 3 functions of money include a medium of exchange, a unit of account, and a store of value

Money that has value because the government decreed it as a way to pay for goods and services

What does the line represent?

During an contractionary policy, The U.S. will

FDR used what theory to institute New Deal programs, and to increase federal spending?

The following are determinants of....

The purpose of the Federal Reserve System is...

Type of tax where the percentage of income paid in taxes decreases as income increases.

Who is the current Chairman of the Board?

The following are determinants of...

Economic theory based on the idea that they supply of goods drives the economy

Makes monetary policy decisions about interest rates and the growth of the U.S. money supply

The most common monetary tool used by the Federal Reserve is...

Money must have a _________ or the value of currency will become worthless.

What happens to the interest rate when the U.S. loosens monetary?

What is the Fed's long run inflation target?

Reagan used which idea in the 1980's when he cut taxes and spending?

Money spent at the choice of lawmakers

Type of tax where the percentage of income paid in taxes increases as income increases.

The buying and selling of government securities (bonds) is also known as.....

During an expansionary policy, The U.S. will

The area between Q1 and Q2 represents what?

Under a tight monetary policy, restricting the money supply, the Fed will....

Type of tax where the percentage of income paid in taxes is the same at all income levels

All of the following are what level tax? Income Tax, Excise Tax, Social Security Tax, FICA Tax.

How many characteristics of money are there?

The area between Q1 and Q2 represent what?

What accounts for one third of all federal government revenue?

Type of money used before established currency.

Money Congress is required by existing law to spend on certain items or to pay on nat'l debt

Which is not an entitlement program given by the U.S.?

What point is represented by the intersection of Supply and Demand?

Ending the gold standard in 1933 moved the U.S. from what type of money to fiat money?

How many governors are on the Federal Reserve Board?

Economic idea that says demand of goods drives the economy