Cards in this guide (23)
What is collective bargaining
a process in which union and company representatives meet to negotiate a new labor contract
What happens in collective bargaining?
representatives of unions and companies negotiate new labor contracts
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
Why is deflation destructive to the nation's economy
Not enough money is spent to keep business activity moving
What do board members of the Federal Reserve obtain their positions
They are appointed by the president and confirmed by the
Senate.
Which president formally changed the US dollar to a fiat currency
This occurred when Lyndon Johnson was president. John Kennedy
took preliminary steps.
What form of money has value only because the government says it does
representative money (A+)
-Emmy aka Hello Kitty
Fiat Money (A+)
-Hailey
When did the US officially move to fiat currency
Which factor of production includes such things as machinery and buildings used in the production of other goods
What does the Federal Deposit Insurance Corporation do
It acts as an insurer of bank customer deposits. A+
How many nationwide districts is The Federal Reserve broken down into
The Federal Reserve is broken down into twelve districts.
Which type of tax is imposed on those who inherit assets from a deceased person
If money supply growth exceeds the growth of the overall economy what will be the result
What is the term for the federal reserves buying and selling of US treasury bonds
What of these describes the Federal Reserve System
part private and part public company 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
Which economists published the Tableau économique
Which form of exchange is used in simple societies and does not involve money
