1. 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 Laundering Money The FedLegal Tender Dolla Billz All about the Benjamins, Baby

2. This characteristic of money forms the basis for the concept of velocity

3. Medium of Exchange

4. When an economic system has thousands of buyers and sellers

5. Pure Competition

6. This would most likely be the outcome long term if the Trans- Alaskan pipeline was shut down

7. Prices would rise globally and no oil shortage would develop

8. Difference between real and current GDP

9. Inflation is factored out for Real GDP

10. GDP growth slowing down would likely result in the lowering of these

11. Interest Rates

12. Increasing health, safety, and environmental regulations would likely decrease this

13. Productivity

14. Money’s scarcity in relation to its utility is the main way to determine the value of this type of money

15. Fiat Money

16. Putting coins in a jar is a way to illustrate money’s function as this

17. Store of value

18. If a merchant chooses to be paid in money instead of a commodity, this is their incentive for choosing money

19. Holding money has no opportunity cost

20. Is paying taxes a market transaction?

21. No

22. Because the federal government declares US currency to be legal tender, then the dollar is this type of money

23. Fiat money

24. This institution is responsible for controlling the US money supply

25. Federal Reserve

26. If the government goes toward a more restrictive monetary policy, they would do this to interest rate

27. Increase

28. If the government is not allowing a particular industry to have exclusive contracts with residents, then they are ensuring this

29. Ease of entry into industry, and price flexibility based on competition

30. Doing this to the monetary policy of the central bank would most likely lower inflation

31. Reducing the money supply

32. If the price of a good is inelastic, the government could do this to increase revenue

33. Add an excise tax

34. Lowering discount rates and buying securities on the open market would be something the Federal Reserve would do the counteract this

35. Recession

36. If a technological change permanently lowered the cost of electricity, this shift would occur

37. The aggregate supply curve would shift to the right

38. An increase in labor productivity would result in this

39. An increase in aggregate supply

40. Reason why unskilled labor in the US is paid less than skilled laborers

41. Human capital in the US surpasses that of workers in other countries

42. Decreasing income tax would be an example of this type of fiscal policy

43. Loose/ Expansionary

44. This institution is responsible for increasing and decreasing the money supply

45. Federal Reserve

46. This level of government spend more money on education than the national government

47. Local

48. The FED cannot do this to implement monetary policy

49. Just print more money

50. The Fed could do this to counteract inflation

51. Increase interest rates