Unit 4 vocab

3. Federal Deposit Insurance Corporation; insure customers deposits in the event of a bank failure.
5. that part of the economy made up of the local, state, and federal governments.
6. money supply components conforming to money;s role as a store of value.
7. total amount of money the federal government has borrowed from others.
10. best or lowest interest rate commercial banks charge their customers.
11. fundamental feature of capitalism which allows individuals to own and control their possessions as they wish.
15. monetary policy resulting in higher interest rates and restricted access to credit.
16. interest rate that the Federal Reserve System charges on loans to the nation's financial institutions.
17. market where any of the requirements of a competitive market are lacking.

1. monetary policy resulting in lower interest rates and greater access to credit.
2. federal budget that shows a positive balance after expenditures are subtracted from revenues.
4. Federal Insurance Contributions Act; tax levied on employers and employees to support Social Security and Medicare.
7. excess of federal expenditures over tax and revenue collections.
8. tax on wages and salaries to finance Social Security and Medicare costs.
9. privately owned, publicly controlled,central bank of the United States.
12. that part of the economy made up of private individuals and businesses.
13. economic products that are consumed collectively.
14. banks belonging to Federal Reserve System.