Cards in this guide (20)
Was inflation a big problem during the revolutionary war
Inflation was a big problem for Americans during the
Revolution
What is one service the fed performs for the treasury department
It processes payments, such as Social Security checks.
What is the function of a bank examiner
to make sure the banks are obeying laws and regulations
A patent is an exclusive right to produce and sell a product for how long
How does an economist compare the standard of living in two different countries
by comparing real GDP per capita
What terms relates to money and banking
monetary policy
monetary policy
A+
What are the four main limitations of GDP accuracy
nonmarket activities, underground economy, negative
externalities, and quality of life
What is the proportion of saved disposable income called
What is the annual income earned by US owned firms and US citizens referred to as
What do economists use to determine if an economy is healthy or if it is in a recession or depression
In calculating the unemployment rate ''discouraged'' workers who are not actively seeking employment are
How do you change federal funds rate
The federal funds rate is the interest rate banks charge on
loans in the federal funds market. The federal funds rate is not
set administratively by the Fed. Instead, the rate is determined by
the supply of reserves relative to the demand for them.
How does a higher level of saving lead to higher gdp in the future
Because more capital is available for investment, leading to
higher output through capital deepening
What does a fractional reserve banking system mean
ensures growth in the economy
Is the increase in efficiency gained by producing more output without using more inputs.
Globalization the development of new technology changes in consumer demand and the discovery of new resources are all causes of
Julia invested 3000 at an annual interest rate of 5 percent from last year to this year there has been a 4 percent inflation rate after a year the purchasing power of her investment
If the number of people classified as unemployed is 50000 and the number of people classified as employed is 250000 what is the unemployment rate
You need to divide the unemployed by the TOTAL number of people
(employed + unemployed). Then you can convert that number into a
percentage.
If economists calculate the GDP for 2009 using current prices of year 2009 what are they estimating
A knitting factory worker who loses her job because the company has relocated the plant to another country is an example of _____.
