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Federal Reserve
Economic Systems
Economic Terms
Trade
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A Mix
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Economic Systems
Federal Reserve
Economic Terms
Trade
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$300
$400
$500
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$200
$300
$400
$500
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A Mix
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Economic Systems $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
What is a command economy?
Economic Systems $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
What is a market economy?
Economic Systems $300
Economic decisions are based on the way things were done in the
past.
Economic Systems $300 Answer
What is a traditional economy?
Economic Systems $400
An economic system that has elements of a
command, traditional and market economy.
Economic Systems $400-Answer
What is a market economy?
Economic Systems $500
This term describes the economy of the United
States.
Economic Systems $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$200
The actions taken by the Federal Reserve to control the amount of money and
credit in the economy.
Federal Reserve $200-Answer
What is monetary policy?
Federal Reserve $300
The interest rate the Federal Reserve charges other banks for overnight
loans.
Federal Reserve $300-Answer
What is the discount rate?
Federal Reserve $400
A method the Federal Reserve uses to control
inflation.
Federal Reserve $400-Answer
What is reduce the money supply?
Federal Reserve $500
Three tools of the Federal Reserve’s monetary policy.
Federal Reserve $500-Answer
What are (discount) interest rates, reserve requirements and open market operations
(buying and selling securities or bonds)?
Economic Terms $100
The total dollar value of all goods and services produced in a country.
Economic Terms $100-Answer
What is the Gross Domestic Product?
Economic Terms $200
Change in the value of money resulting in higher
prices.
Economic Terms $200-Answer
What is inflation?
Economic Terms $300
Giving up the next best thing when an economic
decision is made.
Economic Decision 300-Answer
What is an opportunity cost?
Economic Terms $400
A measure of the overall price level in
the economy.
Economic Terms -Answer
What is the Consumer
Price Index?
Economic Terms $500
A slowdown in economic activity for at least 6
months.
Economic Terms- $500 Answer
What is a recession?
Trade $100
A tax or duty on imports.
Trade $100-Answer
What is a tariff?
Trade $200
To engage in the exchange, purchase or sale
of resources, goods or services.
Trade $200-Answer
What is trade?
Trade $300
This treaty promoted increased trade between Canada, Mexico and the
United States.
Trade $300-Answer
What is the North American Free Trade Agreement
(NAFTA)?
Trade $400
Refusing to trade with another country as a foreign policy tool.
Trade $400-Answer
What is an economic sanction?
Trade $500
This federal regulatory agency promotes fair business practices and
helps protect consumers.
Trade $500-Answer
What is the Federal Trade Commission?
A Mix $100
Fiscal policy is determined by these
branches of government.
A Mix $100-Answer
What are the legislative and
executive branches?
A Mix $200
Tools of fiscal policy.
A Mix $200-Answer
What is increasing or decreasing taxes and
tariffs and/or government spending.
A Mix $300
The absence of inflation or deflation.
A Mix $300-Answer
What is price stability?
A Mix $400
Economic goals of the United States monetary
and fiscal policy.
A Mix $400-Answer
What is economic growth, full employment and price
stability?
A Mix $500
The international organization of 184
countries designed to promote monetary
cooperation and exchange stability.
A Mix $500-Answer
What is the International Monetary Fund?
