ECN2801
Fall
2017 Review
for Exam 3
Dr.
Dao
·
Fiscal Policy
·
Marginal tax rate
·
Laffer Curve
·
Interest Rate Effect
·
Lags in Fiscal Policy
·
Supply side economics
·
Crowding Out
·
Expansionary Fiscal Policy
·
Transmission Lag
·
Effect of permanent marginal tax decrease on short-run aggregate supply
(SRAS)
·
Effect of permanent marginal tax decrease on long-run aggregate supply
(LRAS)
·
Complete Crowding Out
·
Excess Reserves
·
Bank’s Balance Sheet: Assets and Liabilities
·
Barter Economy
·
Store of Value function of money
·
Measures of Money Supply
·
Definition of Money
·
Medium of Exchange
·
Origin of fractional reserve banking
·
Definition of fractional reserve banking
·
Tools of Monetary Policy
·
Makeup of the Federal Open Market Committee (FOMC)
·
Effect of a Fed purchase of government securities on reserves and the
money supply
·
Federal Funds Market
·
Discount Rate
·
What is meant by “lender of last resort”?
·
Locations of Federal Reserve Banks
·
Effect of Decrease in required reserve ratio
·
Term of governors of Federal Reserve System
·
Number of governors in the Board of Governors of the Fed
·
Number of members of the FOMC
·
Which Federal Reserve District Bank holds a permanent seat on the FOMC?
·
Effect of Lowering Discount Rate on reserves and the money supply
·
Formula for simple deposit multiplier