Unit 3B Vocabulary Review

Question 1

The increase in the value of the goods and services produced by an economy.

Accepted Answer

economic growth

Question 2

Refers to most stock market transactions where an investor purchases stock shares.

Accepted Answer

open market transactions

Question 3

Government program of spending and taxation to promote desired economic goals for the nation

Accepted Answer

fiscal policy

Question 4

This is a freely competitive market operating without government-imposed restrictions

Accepted Answer

open market

Question 5

A plan of the government to regulate the money supply in the nation.

Accepted Answer

monetary policy

Question 6

The percentage of their deposits that member banks must keep available

Accepted Answer

reserve requirement

Question 7

The percentage of a financial loan which is paid as a fee over a period of time.

Accepted Answer

interest rate

Question 8

The economic term that refers to one's total income that is left following the payment of taxes

Accepted Answer

disposable income

Question 9

The study of the economy as a whole.

Accepted Answer

macroeconomics

Question 10

Corporation which insures deposits in national banks up to a certain amount.

Accepted Answer

FDIC

Question 11

The central bank of the United States

Accepted Answer

Federal Reserve System

Question 12

The interest rate charged by the Federal Reserve for loans to member banks.

Accepted Answer

discount rate

Questions 12