Money, Fiscal & Monetary Policy

General name for any policy used by the government to help stabilize the economy

• Monetary

• Fiscal

• Fiat

• open market operations

How many districts, or regions, make up the Federal Reserve System

• 7

• 4

• 12

• 9

This function, or use of money, relates to saving money for the future

• Medium of Exchange

• Store of Value

• Standard of Value/Unit of Account

• Fiat

In which year did the FED start paying interest on any bank reserves?

• 1933

• 1913

• 2010

• 2008

Which economist get credit for coming up with supply-side economic theory during the 1970's

• Milton Friedman

• Adam Smith

• John Maynard Keynes

• Jacob Clifford

Who approves any and all nomination to the Board of Governors

• U.S. President

• FOMC

• Reserve Bank Presidents

• U.S. Congress (Senate)

What is the name of the interest rate banks charge each other for any overnight loans used to meet reserve requirements

• Federal Funds Rate

• Discount Rate

• Open Market Operations

• Quantitative Easing (QE)

What does effect does expansionary fiscal policy have on the prices of goods and services

• Decreases

• Increase

• No effect

General term used for any policy used by the Federal Reserve System to help stabilize the economy

• Monetary

• Fiscal

• Open Market Operations

• Quantitative Easing (QE)

What is the dual mandate of the FED

• slow economic growth & price stability

• steady economic growth and full employment

• price stability & full employment

• full employment & steady economic growth