Economics Monetary Policy and the Business Cycle with Review

The FOMC supervises the buying and selling of government securities.

What tools does The Fed use to create economic stability.

Covid19 most significantly caused ___________ unemployment

The law of demand is: when the price of an item _______ quantity demanded will ________.

What is the goal of the government for the federal economy?

How many tools does The Fed have to create economic stability?

What is opportunity cost?

Contractionary policy is used to slow down the economy and fight inflation.

Minimum Wage is a price ceiling.

When a consumer can delay a purchase, likely the item is demand inelastic.

Economic instability causes

Inflation

Inflation hits millennials the hardest

Easy money policy is meant to make more money available in the economy to be used business investment.

A change in price will change supply.

When the CPI increases, what type of monetary policy would The Fed use?

Business investment is included in GDP.

GDP includes all goods and services, both domestic and international

Which one is NOT a factor of production?

Second hand sales are included in GDP.

Rent control is a price ceiling