Privately owned financial institutions that accept demand deposits and make loans and provide other services for the public.

Shortfall that occurs when expenses are higher than revenue over a given period of time.

The sum of all the money that the federal government has borrowed over years and not yet repaid.

The study of smaller economic units such as individual consumers, families, and individual business

Federal reserve decisions that shape the economy by influencing the interest rates and the supply of money.

A financial and social system of how resources flow through society, from production, to distribution, to consumption.

Government efforts to influence the economy through taxation and spending.

Includes all currency plus checking accounts and traveler's checks.

Includes all of M1 Money supply plus most savings accounts, money market accounts, and certificates of deposit.

Overage that occurs when revenue is higher than expenses over a given period of time.

The study of the countries overall economic dynamics, such as the employment rate, the gross domestic product, and taxation policies.

The study of the choices that people, companies, and governments make in allocating society's resources.

The total amount of money within the overall economy.

The Federal Reserve function of buying and selling government securities, which include treasury bonds, notes, and bills.