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12 Cards in this Set
- Front
- Back
- 3rd side (hint)
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The central bank of the United States
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Federal Reserve
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Incorporates 12 Federal Reserve
branch banks and all national banks and stated charted commercial banks and some trust companies. |
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Total market value of all the goods and
services produced within the borders of a nation during a specified period |
Gross Domestic Product (GDP)
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A persistent increase in the level of consumer prices or a persistent
decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services |
Inflation
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An extended decline in general business activity, typically three
consecutive quarters of falling real gross national product |
Recession
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A persistent decrease in the level of consumer prices or a persistent
increase in the purchasing power of money because of a reduction in available currency and credit. |
Deflation
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The amount of a commodity available for meeting a demand or for
purchase at a given price. |
Supply
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The amount of a commodity or service that people are ready to buy for a
given price |
Demand
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The amount where quantity supplied equals quantity demanded; yields equilibrium price and equilibrium quantity
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Equilibrium
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The tendency for a continuing application of effort
or skill toward a particular project or goal to decline in effectiveness after a certain level of result has been achieved. |
Law of diminishing returns
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An exchange of one thing for another
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Trade
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To send or transport (a commodity, for example) abroad, especially for trade or sale
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Exports
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To bring or carry in from an outside source, especially to bring in (goods
or materials) from a foreign country for trade or sale |
Imports
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