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31 Cards in this Set
- Front
- Back
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first system of trade |
barter system |
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in what two cities is paper money made |
Washington D.C and fort worth, Texas |
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what two materials is money made of ? |
cotton and linen |
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what is the profit called when you make money off of printing money?
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seniorage |
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what does FOMC stand for? |
Federal open market committee |
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who is the current chairperson of the FOMC? |
Janet Yellin |
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what is the current unemployment rate? |
5 % |
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name four cities that have federal reserve banks |
1. new york city 2. chicago 3. philadelphia 4. san francisco |
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What does C.P.I stand for? |
Consumer Price Index |
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name 2 steps the government can take to stimulate the economy? |
1. lower interest rates 2. buy gov. securities |
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2 steps to combat inflation |
1. raise interest rates 2. sell gov. securities |
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what is inflation? |
prices go up, dollar's with less |
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What does FDIC stand for? |
Federal depository insurance corporation |
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what is deflation? |
widespread decline in prices |
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what is disinflation? |
inflation goes up 1% each year |
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what is stagflation? |
prices rise in a recessionary period |
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what is the current inflation rate for 2016? |
1.1% |
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what is the core inflation rate for 2016? |
2.3% |
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what is the difference between inflation and core inflation? |
core inflation extracts food or energy price increases |
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name 4 components of CPI |
1. Food 2. Clothing 3. transportation 4. medical |
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how many federal reserve banks are there? |
12 |
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how frequently does the FOMC meet? |
meet every 6 weeks |
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rule of 72 |
72/ I.R.= double time |
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Forex |
Global Foreign Exchange |
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who gets hurt most during times of inflation? |
people with fixed incomes
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who benefits the most during time of inflation? |
people who owe money (debtors) |
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What is the name of the money you invest in your company |
seed capital |
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what are angel investors |
small interest rate, relaxed terms |
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venture capitalists |
lend money but with high interest or strict terms |
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what are the two classes of stock |
1. common stock 2. preferred stock |
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whats the name of big company stocks? |
blue chip stocks |
