Chapter 18 Who's In Charge Here? FEDERAL RESERVE Fed's Long Term Goals: Full employment Economic Growth Stable Prices Stability in Balance of Trade Equitable distribution of income & wealth Efficiency Full Employment - What is it? - Natural unemployment rate - Why higher rate of unemployment - Why want full employment Economic growth - Define - How grow? Increase productivity - labor - capital - Benefits of faster economic growth - Cost Price Stability - define - Cost of higher prices - who gains - who losses International/ Balance of Trade - define - finance continuous buying--impact - lower the price (exchange rate) - sell assets owned - borrow - fixed/floating rate Equitable distribution of income/wealth - define - ultimate achievement of distribution (U. S.) - marketplace - govt expenditures - income tax systems - Survey Results: Efficiency - define - market place
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