12 Questions
What does an ATM do?
Provides cash and performs banking services automatically
What are bank reserves?
The percentage of a bank's deposits that it keeps on hand
What is a capital gain?
A profit realized from the sale of property, stocks, or other investments
What are business cycles?
Ups and downs in economic activity over time
What are adaptive expectations?
Expectations about inflation or other economic events
What are bank service charges?
Fees paid by bank customers for financial services
What are examples of Capital Resources?
Machinery, tools, buildings
What is the definition of Deflation?
A sustained decrease in the average price level of goods and services produced in the economy
What is the Central Banking System responsible for?
Regulating the money supply and overseeing the nation's banks
What does the term Globalization refer to?
The increased flow of trade, people, investment, technology, culture, and ideas among countries
What is Inflation?
A general increase in the price level
What are examples of Fixed Expenses?
Mortgage or rent payments, car payments
Test your knowledge of economic terms with this glossary quiz. Part 2 covers concepts such as adaptive expectations, automated teller machine (ATM), bank reserves, and bank service charges.
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