General term that descrbes the increase in the general price level
Gross ___ Product measures what is produced by U.S. companies.
Entity primarily responsible for fiscal policy
Component of GDP and key to increasing nat'l productivity
Specific measurement of change in general price level
Committee that advises the Fed Board of Governors
Measures what the workers of a country produce in one year.
Medium of exchange, store of value, standard of value
Natural rate of this problem in the U.S. is about 5%
Raising taxes and/or decreasing gov't spending
Measures the value of things in current dollars
Price of borrowing money
Gov't revenue is less that gov't expenses
Gov't expense that is not counted in GDP
Lowest phase of the business cycle
Down
Transactions not included in GDP
The quality of a dollar doesn't change the value of it
Term for referring to all the goods supplied and demanded by a country
City that houses one of the Federal Reserve banks
Subtracted to get Net Exports
Real GDP/population measures:
Accumulation of budget shortfalls + interest
Rising unemployment, reduced business activity, lower consumer spending
# of Federal Reserve Districts
One of the problems with fiscal policy
When a value has been adjusted for inflation.
Primary economic goal affecting standard of living
Tool of fiscal policy
Banks must keep a certain % of deposits in ___
Helps prevent bank runs
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