ch 13 quiz

Which function of money is money given for goods and services.

Type of unemployment where skills do not match the job

the dollar value of all final goods and services produced within a country's borders in a year

The process by which the Federal Reserve controls the money supply to keep the economy stable.

Healthy unemployment rate

income that does not increase even when prices go up

What is the result when aggregate supply exceeds aggregate demand?

percentage of the nation's labor force that is not employed

Type of unemployment where individuals are in transition or between jobs

Type of unemployment caused by a downturn in the economy

A measurement that shows how the average price of a standard group of goods changes over time

A decline in GDP combined with a rise in the price level.

a general increase in price

The central banking system of the United States.

Which is most closely associated with "contraction" in the business cycle?

Which of the following is most hurt by inflation?