Miscellaneous Quiz / Unit 5 Vocabulary!

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Can you name the Unit 5 Vocabulary!?

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DefinitionVocabulary Word
an item that buyers give to sellers when they want to purchase goods and services
money that takes the from of a commodity with intrinsic value
the purchase and sale of U.S. government bonds by the Fed
an item that people can use to transfer purchasing power from the present to the future
the equation M x V = P x Y, which relates the quantity of money, the velocity of money, and the dollar value of the economy's output of goods and services
the resources wasted when inflation encourages people to reduce their money holdings
the proposition that changes in the money supply do not affect real variables
DefinitionVocabulary Word
The central bank of the United States
an institution designed to oversee the banking system and regulate the quantity of money in the economy
The yardstick people use to post prices and record debts
the one-for-one adjustment of the nominal interest rate to the inflation rate
regulations on the minimum amount of reserves that banks must hold against deposits
the quantity of money available in the economy
variables measured in physical units
DefinitionVocabulary Word
The set of assets in an economy that people regularly use to buy goods and services from other people
the costs of changing prices
the interest rate on the loans that the Fed makes to banks
the revenue the government raises by creating money
a theory asserting that the quantity of money available determines the price level and that the growth rate in the quantity of money available determines the inflation rate
balances in bank accounts that depositors can access on demand by writing a check
deposits that banks have received but have not loaned out
DefinitionVocabulary Word
the ease with which an asset can be converted into the economy's medium of exchange
the setting of the money supply by policymakers in the central bank
the amount of money the banking system generates with each dollar of reserves
the theoretical separation of nominal and real variables
the rate at which money changes hands
variables measured in monetary units
the paper bills and coins in the hands of the public

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