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Economics ch 14,15 Macro

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1.hypothetical relationship between federal income taxes and tax revenues
4.total of all goods and services demanded at different price levels
8.point at which the level of real GDP is consistent with a given price level (supply and demand meet)
10.total GDP produced in a specific period of time at various price levels
12.interest rate the Fed charges on loans to financial institutions
13.amount banks must keep at their individual bank
18.an easy money policy can lead to this negative effect
20.M2 usually refers to what type of money
21.established to protect the savings of the American people
22.type of money used with crops
23.money easily transferred from one person to another
2.part of the Federal Reserve that decides whether to raise or lower interest rates
3.paper currency issued by the Fed
5.buys stock in the Federal Reserve (not the national banks)
6.this man's theory involving the multiplier-accelerator effect said the economy will go in a downword spiral
7.emphasizes increasing consumer purchasing power
9.policy where Fed is trying to contract the money supply
11.something accepted as payment for goods and services
14.the Federal Reserve is made up of member banks and how many district banks
15.change in investment spending will have a magnified effect on total spending
16.the Federal Reserve Open Market Committee is the primary decision maker on what type of policy
17.anything a government decrees to be money
19.policy by the government to stabalize the economy through taxing and spending

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