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FDIC stands for:
Federal Deposit Insurance Corporation
federal agency that insures individual accounts in financial institutions for up to $100,000
the interest rate the Fed charges on its loans
both coins and paper money
- situation in which quantity supplied is greater than quantity demanded
- situation in which government spends less than it collects in revenues
situation in which government spends more than it collects in revenues
tax levied on a product at the time of sale
CD (certificate of deposit)
timed deposit that states the amount of the deposit, maturity, and rate of interest being paid.
- an institution that lends money to other banks
- the place where the government does its banking business
a plan for making and spending money
legislation earmarking funds for certain purposes
contract to repay borrowed money with interest at a specific time in the future
tax on land and property
FOMC (federal open market committee)
the most powerful committee of the Fed, because it makes the decisions that affect the economy as a whole by manipulating the money supply.
metallic form of money such as pennies, nickels, and dimes
12-month planning period that may not coincide with the calendar year
congressional document that shows total spending and revenues for a year and how much will be spent in various categories
money borrowed and not yet paid back
program that automatically provides benefits to offset a change in people's lives
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