| A | B |
|---|
| Federal Reserve Bank | One of 12 regional banks established to maintain reserves, issue bank notes, and lend money to member banks. |
| Interdependance | When Individuals and Countries rely on each other |
| Inflation | A general rise in the price of goods and services |
| Deflation | a general decrease in the prices of goods and services |
| Recession | a time when production is down and more people are out of work |
| Deficit | an excess of expenditures over income |
| Monetary Policy | When the Federal Reserve engages in varying the rate of growth of the money supply with the intention of affecting prices and employment |
| Fiscal Policy | The use of spending and taxes by the Federal Government to influence prices and employment |
| Third Party Cost | A person or group bears a cost as a result of a transaction in which they had no involvement |
| Third Party Benefit | A person or group obtains benefits as a result of a transaction in which they had no involvement |
| Debt | Something that is owed or that one is bound to pay or perform for another |
