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☆☆☆☆☆Cards in this guide (18)
What best describes the organization of labor and capital
production
Which of the following most accurately explain why commodity money has value
Commodity money is a good that can be used as a medium of exchange or for some other purpose.
Why is the willingness to pay more for goods and services destructive to the nation's economy
it drives up prices and causes money to loss value.
Which of these does not describe representative money
it only has value because the government says it does
What is the Federal Reserve managed by at the national level
Board of Governers
Which of these was not brought about by the passage of the National Bank Acts of 1863 and 1864
the creation of a centralixed bank of the United States
Which of these was created from the Glass-Steagall Act of 1933 after the Great Depression
Federal Deposit Insurance Corporation
Which of these led to the Panic of 1907
an increase in bank runs due to a lack of confidence in the banking system
What do board members of the Federal Reserve obtain their positions
They are appointed by the president and confirmed by the Senate.
Which factor of production is used by manufacturing firms for a physical location
land
What is money called when it is accepted for goods and services
A medium of exchange
If money supply growth exceeds the growth of the overall economy what will be the result
inflation
The Panic of 1907 was casued by what
The panic of 1907 was called by a financial crisis that began at the beginning of the twentieth century.
What is the term for the federal reserves buying and selling of US treasury bonds
fiscal policy
Which of these is not a service provided by the government using revenue from taxes
Private Schools (A+)
The nation's economic health is currently calculated by using what
Gross Domestic Product
The Second Bank of the United States was formed largely as a result of which war
war of 1812
Which form of exchange is used in simple societies and does not involve money
Barter
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