History 24-25

Federal Deposit Insurance Corporation

federal agency that insures individual accounts in financial institutions for up to $100,000

the interest rate the Fed charges on its loans

both coins and paper money

• situation in which quantity supplied is greater than quantity demanded
• situation in which government spends less than it collects in revenues

situation in which government spends more than it collects in revenues

tax levied on a product at the time of sale

timed deposit that states the amount of the deposit, maturity, and rate of interest being paid.

• an institution that lends money to other banks
• the place where the government does its banking business

a plan for making and spending money

legislation earmarking funds for certain purposes

contract to repay borrowed money with interest at a specific time in the future

tax on land and property

the most powerful committee of the Fed, because it makes the decisions that affect the economy as a whole by manipulating the money supply.

metallic form of money such as pennies, nickels, and dimes

12-month planning period that may not coincide with the calendar year

congressional document that shows total spending and revenues for a year and how much will be spent in various categories

money borrowed and not yet paid back

program that automatically provides benefits to offset a change in people's lives