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ECO%20210%20Test%203,%20Study%20Guide,%20020 - Marginal...

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ECO 210 Test 3 Study Guide TERMS - There will be 20 terms from the list of terms below on the test in matching format. The definitions will come from the textbook glossary Budget deficit Cyclical deficit Federal budget Federal debt Federal surplus (+) or deficit (-) Fiscal policy Structural deficit Tax multiplier Commodity monies Discount rate Fiat or token money Legal tender M1 or transaction money M2 or broad money Money multiplier Open Market operations Required reserve ratio Easy monetary policy Interest Monetary policy Speculation motive Transaction motive Marginal Propensity to Marginal Propensity to Save Consume Aggregate Demand Aggregate supply Policy mix Crowding-out effect MULTIPLE CHOICE TOPICS - There will be 30 multiple choice questions which will address the topics below:
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Unformatted text preview: Marginal Propensity to Save and Marginal Propensity to Consume The multiplier and its real world size Government budget surplus/deficit Definition of money Functions of money Types of money Components of M1 and M2 Required reserves/excess reserves Organizational elements of Fed Functions of Fed Operation of Fed’s tools to control the money supply Transaction motive Speculation motive Government spending multiplier Tax multiplier Money multiplier Effects of expansionary fiscal and monetary policy Effects of contractionary fiscal and monetary policy The Equilibrium interest rate PROBLEMS - You are responsible for being able to complete problems using the Multiplier, the Government Spending Multiplier, the Tax multiplier and the Money Multiplier...
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