24-25 Economics Unit 5 Final Exam Review

Front

What is NOT a function of money? Medium of Exchange, Store of Value, Unit of Account, Durability

Back

Durability

Front

What function of money does the picture represent?

Back

Medium of Exchange

Front

If your car is said to be worth $20,000, what function of money is being used?

Back

Unit of Account

Front

If a $20 bill is still worth $20 in 10 years, which function of money is being used?

Back

Store of Value

Front

The central bank of the United States is the:

Back

Federal Reserve Banking System.

Front

________ policy is controlled by the Fed to manipulate interest rates, inflation, and unemployment.

Back

monetary

Front

Expansionary monetary policy fights ______________ and _____________ interest rates.

Back

unemployment; lowers

Front

Contractionary monetary policy fights ______________ and _____________ interest rates.

Back

inflation; raises

Front

Fiscal policy is defined as:

Back

the use of government taxing and spending to promote economic stability.

Front

Who is in charge of fiscal policy? Options: Government, Federal Reserve

Back

Government