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Civics and Economics Chapter 10 Lesson 4

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Bryan Poepperling

on 19 May 2014

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Transcript of Civics and Economics Chapter 10 Lesson 4

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The Federal Reserve System
The Federal Reserve System, called the Fed, is the country's central bank
- It consists of 12 Federal Reserve Banks and 25 branch banks, all headed by a board of governors

- The Fed has four main responsibilities
1. Acts as the federal government's bank
2. Regulates banks
3. Manages the money supply
4. Maintains the value of the nation's currency (dollar)
Government's Monetary Policy
- Private ownership is a key component of the American economic system
- the government passes laws to enforce against theft and damage to private property

- The government also protects property rights by enforcing contracts (legal agreement between two people)
Once a contract is made, it is enforceable by law

*Much of the nation's business depends on contracts between buyers and sellers* (Ex.- between buyer and seller or between a renter and an apartment owner)

- The government passes laws and has agencies
to protect the rights of consumers
Lesson 4:
The Federal Reserve and
Consumer Rights

Designed By:
Mr. Poepperling

CE. 13d- The student will demonstrate knowledge of the role of government in the United States economy by explaining how the Federal Reserve System acts as the nation's central bank, and by describing the protection of consumer and property rights

1. Explain what the Federal Reserve is and describe at least two of its responsibilities
2. Explain what monetary policy is and how it is used by the Fed
3. Name and explain at least two government agencies that protect consumers

Standards and Objectives
Chapter 10
How the Government Promotes Competition in the Economy

Ticket Out of the Door
Answer these questions correctly and you're out of the door!

1. Explain what the Fed is and name at least two responsibilities of the Fed
2. What is monetary policy?
3. What are at least two agencies that protect consumers?

Consumer and Property Rights
1. Acts as the federal government's bank
2. Regulates banks
3. Manages the money supply
4. Maintains the value of the nation's currency (dollar)
Government Agencies that Protect Consumers
- The Fed issues the country's currency (paper
money and coins) and holds the government's deposits
- Banks can borrow from the Fed

- The Fed oversees the banks to make sure that they are sound and that deposits are safe

- The Fed sets the amount all banks must set aside in reserve (Reserve Requirement)
- The Fed manages the amount of money in the economy, to help keep inflation low and stable
- When prices go up, the dollar will buy less than it did before a price rise

- By keeping prices down, the value of the dollar stays up
Monetary Policy-
The ability the Fed has to regulate the money supply in the economy
- Done by increasing interest rates, or changing the amount of money banks need to keep in their vaults

- The Fed uses fiscal policy and monetary policy to control inflation
Food and Drug Administration
- The FDA makes sure foods, cosmetics, and drugs are safe and labeled correctly

Consumer Product Safety Commission
- The CPSC makes safety rules for products such as toys, tools, children's clothes, and household appliances

National Highway and Traffic Safety Administration
- The NHTSA sets safety standards for motor vehicles
Full transcript