Honors Unit 6 Econ Test

What is the main characteristic of money

Portable, small seashells

What is another characteristics of money?

Limited Supply of money, does not grow on trees

Is this Commodity, Representative, or Fiat Money

Commodity Money

Is this Commodity, Representative, or Fiat Money

Representative Money (silver)

Is this Commodity, Representative, or Fiat Money

Fiat Money

Is this a Contractionary (Tight) Policy or a Expansionary (Loose) Policy

Contractionary (Tight) Policy

Is this a Contractionary (Tight) Policy or a Expansionary (Loose) Policy

Expansionary (Loose) Policy

What would the Fiscal be for the Expansionary (Loose) Policy

Lower Taxes, Increase Government spending

What would the Monetary be for the Expansionary (Loose) Policy

Buy U.S. bonds, Lower the Reserve Requirement, Lower the Discount Rate

What would the Fiscal be for the Contractionary (Tight) Policy

Raise Taxes, Decrease Government spending

What would the Monetary be for the Contractionary (Tight) Policy

Sell U.S. bonds, Raise the Reserve Requirement, Raise the Discount Rate

What does BLAST stand for

Buy Loose and Sell Tight

What directly impacts spending and investment(picture)

Intrest Rates

What is the Monetary Policy

Banks charging one another for short- term loans, bank to bank lending

What is a trade surplus

when a country exports more than it imports

What is a trade deficit

When a country imports more then it exports

What ____, trade ___ the global standard of living

aggregate (big picture), improves

Describes what happens to your supply demand curve

When shifting the demand for one currency the supply of the other currency shifts the SAME direction

What kind of shifter would be because of Japan placing a tariff on US impo

Who is the board of Governors Chairman

Jerome Powell

What are 2 things about the dule mandate

Who appoints the board of governors and why

the president (supported by the feds tho), to avoid political pressures

Where are the 3 main banks located in texas with their N.S.E.W (compass)

Huston (east), El Paso (west), San Antonio (central)

What is alike between the manages money supply catagory and the bank for the federal government

Open Market Operations and the Purchase and Sale of Government Securities is the same

What is the equation to find the required reserves of 5%

5×10=50

What is the equation to find the excess reserves (loans) of 5%

1,000-5%=990 (1,000- %)

What is the equation to find the deposit expansion multiplier of 5%

1/0.05=20 (1/ 0.%)

What is the equation to find the maximum increase in the money supply of 5%

Required x Excess (990×50=19,000)

If a reserve rate is LESS is that contractionary or expansionary

contractionary

If a reserve rate is MORE is that contractionary or expansionary

expansionary