Federal Reserve Economic Systems Economic Terms Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 A Mix $100 $200 $300 $400 $500

Economic Systems Federal Reserve Economic Terms Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 A Mix $100 $200 $300 $400 $500

Economic Systems $100$100 A system where the government answers the economic questions of what to produce, how much to produce and for whom to produce.

Economic Systems $100-Answer$100-Answer What is a command economy?

Economic Systems $200$200 Buyers and sellers answer the economic questions of what to produce, how much to produce and for whom to produce.

Economic Systems $200-Answer$200-Answer What is a market economy?

Economic Systems $300$300 Economic decisions are based on the way things were done in the past.

Economic Systems $300 Answer$300 Answer What is a traditional economy?

Economic Systems $400$400 An economic system that has elements of a command, traditional and market economy.

Economic Systems $400-Answer$400-Answer What is a market economy?

Economic Systems $500$500 This term describes the economy of the United States.

Economic Systems $500-Answer$500-Answer What is a mixed economy?

Federal Reserve $100 Agency responsible for monetary policy.

Federal Reserve $100-Answer What is the Federal Reserve?

Federal Reserve$ The actions taken by the Federal Reserve to control the amount of money and credit in the economy.

Federal Reserve $200-Answer$200-Answer What is monetary policy?

Federal Reserve $300$300 The interest rate the Federal Reserve charges other banks for overnight loans.

Federal Reserve $300-Answer$300-Answer What is the discount rate?

Federal Reserve $400$400 A method the Federal Reserve uses to control inflation.

Federal Reserve $400-Answer$400-Answer What is reduce the money supply?

Federal Reserve $500$500 Three tools of the Federal Reserve’s monetary policy.

Federal Reserve $500-Answer$500-Answer What are (discount) interest rates, reserve requirements and open market operations (buying and selling securities or bonds)?

Economic Terms $100$100 The total dollar value of all goods and services produced in a country.

Economic Terms $100-Answer$100-Answer What is the Gross Domestic Product?

Economic Terms $200$200 Change in the value of money resulting in higher prices.

Economic Terms $200-Answer$200-Answer What is inflation?

Economic Terms $300$300 Giving up the next best thing when an economic decision is made.

Economic Decision 300-Answer300-Answer What is an opportunity cost?

Economic Terms $400$400 A measure of the overall price level in the economy.

Economic Terms -Answer-Answer What is the Consumer Price Index?

Economic Terms $500$500 A slowdown in economic activity for at least 6 months.

Economic Terms- $500 Answer- $500 Answer What is a recession?

Trade $100$100 A tax or duty on imports.

Trade $100-Answer$100-Answer What is a tariff?

Trade $200$200 To engage in the exchange, purchase or sale of resources, goods or services.

Trade $200-Answer$200-Answer What is trade?

Trade $300$300 This treaty promoted increased trade between Canada, Mexico and the United States.

Trade $300-Answer$300-Answer What is the North American Free Trade Agreement (NAFTA)?

Trade $400$400 Refusing to trade with another country as a foreign policy tool.

Trade $400-Answer$400-Answer What is an economic sanction?

Trade $500$500 This federal regulatory agency promotes fair business practices and helps protect consumers.

Trade $500-Answer$500-Answer What is the Federal Trade Commission?

A Mix $100$100 Fiscal policy is determined by these branches of government.

A Mix $100-Answer$100-Answer What are the legislative and executive branches?

A Mix $200$200 Tools of fiscal policy.

A Mix $200-Answer$200-Answer What is increasing or decreasing taxes and tariffs and/or government spending.

A Mix $300$300 The absence of inflation or deflation.

A Mix $300-Answer $300-Answer What is price stability?

A Mix $400$400 Economic goals of the United States monetary and fiscal policy.

A Mix $400-Answer$400-Answer What is economic growth, full employment and price stability?

A Mix $500 $500 The international organization of 184 countries designed to promote monetary cooperation and exchange stability.

A Mix $500-Answer$500-Answer What is the International Monetary Fund?