Economics Unit 4 Review Game (Ch.11-14)

Japan firm buys 1,000 GM trucks

An elderly couply living off fixed retirement payments of $2000 a month

This type of policy is controlled by the Federal Reserve

This happens when a government spends less money than it brings in, in taxes

Sue just graduated from college and is searching for her first job

If the economy is in a recession what type of fiscal policy should be used?

The US has this type of tax structure

To decrease the money supply, the FED should ____ the discount rate

Joe buys 50 hammers for his construction business

If the FED wants to expand the economy it will:

What is the unemployment rate equation? (MUST KNOW!!)

When someone has stopped looking for a job they are considered:

This type of GDP takes into consideration inflation

Which is not part of the business cycle

Smoking and drinking would receive this type of tax

To increase the money supply, the FED should ____ government bonds

Which is not a right given to congress in terms of the economy by Article 1 of the Constitution

Which of the following is not a role of the gov. in maintaining competition?

A tenant who is charged $850 rent each year

Which part of GDP is this following? “McDonalds buys a new fry cooker for their restaurant”

Kim was laid off from the Aerospace Corporation due to defense cutbacks

A ma who lent out $500 to his friend in 1960 and is still waiting to be paid back

If the RR is .5 and the FED sells $10 million bonds, what will happen to the money supply

To decrease the money supply, the FED should ____ government bonds

You buy $500 worth of used books from the bookstore

Welfare, unemployment benefits, food stamps are considered...

If the economy is in a recession what type of monetary policy should be used?

If the economy is in an inflationary gap what fiscal policy should be done?

What city is our regional FED bank located in?

The I in the GDP equation stands for

You get a haircut for $15

The government receives most of its tax revenue from?

Bob is laid off in the winter from his construction job but will be hired back next May

A 14 year old looking for his first job is considered

Working for a job for which you are over-qualified

Which of the following is not a function of the Federal Reserve

A man that borrowed $1,000 in 1995 and paid it back in 2006

Nick is selling stolen race car parts on the black market

What is the equation for the change in GDP and the change in inflation? (MUST KNOW BOTH!!!)

If the RR is .1 and the FED buys $10 million bonds, what will happen to the money supply

If the economy is in an inflationary gap what monetary policy should be used?

Tim was laid off from his construction job due to the recession

Jennifer Aniston finished her last movie and is looking for her next film

The line on the graph of a proportional tax would:

This type of unemployment is when industries slow at certain points of the year

Which is an example of a negative externality?

This process is when the money you spend is continuously spent by others throughout the economy

US government spends $5 billion to clean up an oil spill

Tom can't find a job as a VCR repairman

The natural rate of unemployment is

The type of fiscal policy that is permanent and can't be easily changed by congress is called

If the IRS reviews your tax returns it is performing a(n)

To increase the money supply, the FED should ____ the discount rate

The type of fiscal policy that can be changed by congress is called