05/01 Economic Questions

_______ work to promote the members’ interest in various employment matters, including pay, working hours and benefits

Labor unions

The extent to which persons of organizations are better off at the end of a period than they were at the beginning is _______

profit

Durable goods intended for final use by individuals are called _______

consumer goods

The _______ regulates margin requirements for the stock markets

Federal Reserve

______ determines a bank’s lending ability

Excess reserves

If more money is created it can cause _____

inflation

Who ultimately determines the products that a free enterprise economy produces?

consumers

What should ALL people who have income invest in if they qualify?

Roth IRA

What is the most important aspect to good financial health?

Budget

The extent to which persons or organizations are better off at the end of a period than they were at the beginning is called _______

profit

We live in the _______, with branches in Birmingham AL, Jacksonville FL, Miami FL, Nashville TN, and New Orleans LA

6th District of the Federal Reserve Bank of Atlanta

How do members of the Federal Reserve Board of Governors get their jobs?

Appointed by the president and confirmed by the Senate

Banks that belong to the Federal Reserve System ________ and, therefore, own it

hold stock in the Fed

The ______ was established to protect the savings of the American people

FDIC

________ are inconvertible fiat money

Federal Reserve notes

Cost incurred even if the output is zero is called _______

fixed cost

________ is the gradual wear and tear on Capital goods

Depreciation

if produces expect higher prices in the future, then _______

they may withhold some supply

A meeting of representatives for labor and management to negotiate contracts is called _______

collective bargaining

Samuel Gompers, a cigar maker, is considered a ________

major leader in the struggle to organize labor

_______ are most common in government

Labor Unions

________ provides information on companies, maintaining records of consumer inquiries and complaints, and offering consumer education

Better Business Bureau

A ________ is a nation’ s main monetary authority

central bank

The Fed provides banking services for _________

the national government and many private banks

_________ include savings and loan institutions

Thrift institutions

Audits of a bank’s financial practices are called _____

bank exams

_________ is a service provided by the Federal Reserve Bank

Processing US savings bonds