ECO 372 Week 4 Individual Presentation - Federal Reserve Presentation

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Resource: Figure 3-1 in Ch. 3 of Macroeconomics.
Part 1
Describe the following terms in your word.
Gross domestic product (GDP)
Real GDP
Nominal GDP
Unemployment rate
Inflation rate
Interest rate
Part 2
Consider the following examples of economic activities:
Purchasing of groceries
Massive layoff of employees
Decrease in taxes
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Write a 700- to 1,500-word paper summarizing the results.

Preview:
Introduction
This is the central banking system in the United States. It was created in 1913 to handle the increasing instances of banking panics (Arora & Cerisola, 2000).
However, as time went by, its roles expanded to accommodate the dynamic economy of the United States.
Roles played include the provision of elasticity in the U.S. currency and supervision of the U.S. monetary system.
Banking system and rediscounting of the business paper were introduced to ensure sustainability of the United States economy through effective monitoring and evaluation process (Arora & Cerisola, 2000).
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