What is the prime rate?

The interest rate of banks and consumer demand

A budget deficit is ________, while a budget surplus is _______.

Excess of government spending, little government spending

What is a basic function of money?

As a mechanism to store value, As a medium of exchange, As a unit of account

What is a type of economic indicator?

Lagging economic indicators., Other economic indicators, Leading economic indicators

What is the labor force?

employed + unemployed seeking work

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Macroeconomics

16 termsStudBud Administration12 plays

Based on the #AcademicDecathlon #economics basics material.

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Questions 16

Answers

1
What represents how all things are economically connected to one another?
Spending
Triangular Flow Model
Circular Flow Model
Macroeconomics
2
What is the prime rate?
The interest rate that governments charge their employees
The standard rate of kittens and the economy
The interest rate of banks and consumer demand
The IR of how fast Amazon delivers to premium members
3
What is the rise in cost of factors of production called?
Production pull
Demand pull
Cost push
Supply push
4
A budget deficit is ________, while a budget surplus is _______.
Little of national spending, excess national spending
Little of government spending, excess government spending
Excess of government spending, little government spending
Excess of government kittens, little government kittens
5
What is a basic function of money?
As a mechanism to store value
As a medium of exchange
As the creator of trade
As a unit of account
6
What organization implements monetary policies in the US?
The Federal Deposit Company
The Federal Withdrawal Association
The Index of Consumer Confidence
The Federal Reserve System
7
Which of the following is very hard to calculate?
Total spending
Non-market transactions
Market transactions
Opportunity cost
8
What goals do policies by Congress and the executive branch have to pursue?
Growth of output
All of them
Price Stability
Full employment
9
When the recipient of the transfer spends the income on goods/services, it is part of the...
Gross Domestic Product
Per Capita Income
National Debt
Government Funds
10
How many crucial measurements are there in the “Index of Leading Economic Indicators?”
13
11
10
12
11
What is a type of economic indicator?
Lagging economic indicators.
Revenue
Other economic indicators
Leading economic indicators
12
Which law states where the circular flow model starts?
Mom’s Law
Say’s Law
Ray’s Law
Humphrey-Hawkins law
13
Who was the founder of Keynesian economics?
Marc Keynes
John Maynard Kittens
Franklin D. Roosevelt
John M. Keynes
14
How are overall prices most commonly measured?
Consumer Price Index (CPI)
Public Price Measurer (PPM)
Producer Price Index (PPI)
Executive Price Index (EPI)
15
What is the labor force?
unemployed seeking work + unemployed NOT seeking work
employed
employed + unemployed NOT seeking work
employed + unemployed seeking work
16
What has become the tool to stimulate or slow job creation?
Interest rates
Imports
Exports
Immigration

Macroeconomics Flashcards | StudBud