Cards in this guide (21)
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
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 effect do open market operations have on the Federal Reserve
they allow the Fed to change the nation's money supply to its
most ideal level
What do board members of the Federal Reserve obtain their positions
They are appointed by the president and confirmed by the
Senate.
What are the main sources of capital for the national state and local governments
What does the Federal Deposit Insurance Corporation do
It acts as an insurer of bank customer deposits. A+
Who was one of the first economists to write about the division of labor
If money supply growth exceeds the growth of the overall economy what will be the result
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
Which of these is not a service provided by the government using revenue from taxes
The nation's economic health is currently calculated by using what
What statements are not true regarding the government's power to tax
the power to tax is unlimited but must be used in accordance
with the provisions in the constitution A+
What led to the demise of the second bank of the United states
controversy over corruption and political opposition
How long did the charter for the First Bank of the United states last
The Second Bank of the United States was formed largely as a result of which war
Which form of exchange is used in simple societies and does not involve money
