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Economics

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Coleman Lesch

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Cards in this guide (7)
Which of the following can the Fed accomplish by raising or lowering the required reserve ratio

Increase or decrease the money supply

What are Normal Trade Relations

The designation of a country with which beneficial trade status (lower tariffs, limited restrictions) has been declared. The status Permanent Normal Trade Relations (PNTR) was created in 1998 to replace the former title of Most Favored nation (MFN).

What describes what is done with foreign currency in the currency exchange market

Bought and sold using different foreign currencies.

Describes the most likely effect of the fed buying millions of dollars in t-bonds

an increase in the money supply
An increase in the money supply

How would you match each type of tariff A revenue tariff B protective tariff with its purpose C retaliatory tariff 1 earn money for the government 2 engage in a trade war 3 help domestic producers

Revenue tariff - Earn Money for the Government

Protective Tariff - Help domestic producers

Retaliatory tariff - engage in a trade war

What best explains what a forward contract is

A contract to deliver a particular commodity to a buyer sometime in the future.

Goods and services are exchanged without the use of money in which system

Barter

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