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Economic Glossary Part 2: Terms and Definitions

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Economic Glossary Part 2: Terms and Definitions

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Questions and Answers

What does an ATM do?

Sells banking products and services
Accepts cash deposits and processes loan applications
Provides cash and performs banking services automatically (correct)
Offers financial advice to customers

What are bank reserves?

The interest earned on deposits in a bank
The amount of money a bank lends out
The fees paid by bank customers for financial services
The percentage of a bank's deposits that it keeps on hand (correct)

What is a capital gain?

A loss suffered upon the sale of property, stocks, or other investments
The cost of purchasing capital resources
The interest earned on capital resources
A profit realized from the sale of property, stocks, or other investments (correct)

What are business cycles?

Ups and downs in economic activity over time (B) Signup and view all the answers

What are adaptive expectations?

Expectations about inflation or other economic events (C) Signup and view all the answers

What are bank service charges?

Fees paid by bank customers for financial services (A) Signup and view all the answers

What are examples of Capital Resources?

Machinery, tools, buildings (D) Signup and view all the answers

What is the definition of Deflation?

A sustained decrease in the average price level of goods and services produced in the economy (D) Signup and view all the answers

What is the Central Banking System responsible for?

Regulating the money supply and overseeing the nation's banks (A) Signup and view all the answers

What does the term Globalization refer to?

The increased flow of trade, people, investment, technology, culture, and ideas among countries (C) Signup and view all the answers

What is Inflation?

A general increase in the price level (A) Signup and view all the answers

What are examples of Fixed Expenses?

Mortgage or rent payments, car payments (D) Signup and view all the answers