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Business Cycle, Taxes, and Fiscal Policy Flashcards | StudBud
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Business Cycle, Taxes, and Fiscal Policy
Business Cycle, Taxes, and Fiscal Policy
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1
The size of the bag of Doritos is getting smaller, but the price has stayed the same.
Time for Cheetos!
Deficit
Defaltion
Inflation
2
Things are getting better. People are finding jobs and spending more money.
Depression/Trough
Recession/Contraction
Peak/Prosperity
Recovery/Expansion
3
The economy is at an all time high, the government should.
Lower Taxes and decrease government
Raise Taxes and decrease government spending
Lower Taxes and increase government spending
Let the Good Times Roll
4
Unemployment is rising, new home sales are beginning to decline.
Trough/Depression
Recovery/Expansion
Peak/Prosperity
Contraction/Recession
5
Fiscal Policy includes everything except....
taxes
government spending
budget
interest rate
6
The coal mine closes and 300 workers lose their jobs and are forced to find new ones.
Structural Unemployment
Seasonal Unemployment
Cyclical Unemployment
Frictional Unemployment
7
Unemployment is at an all time high!
Trough/Depression
Contraction/Recession
Recovery/Expansion
Peak/Prosperity
8
What is the biggest concern in a good economy?
happiness
foreclosures
inflation
unemployment
9
To increase the money supply the federal government should have a.....
loose money policy
buy bonds
increase taxes
tight money supply
10
Jim has decided to quit his job at McDonalds because he has graduated from high school and will be heading to college.
Seasonal Unemployment
Cyclical Unemployment
Structural Unemployment
Frictional Unemployment
11
An example of cost-push inflation would be?
Iphone prices are increasing because everyone wants one.
Everyone is making to much money.
The demand for fidget spinners is high, driving up the price
Cost of corn goes up due to a drought, cereal is expensive.
12
Juan loses his job at Splashtown because it gets cold.
Seasonal Unemployment
Cyclical Unemployment
Structural Unemployment
Frictional Unemployment
13
Which measurement of the GDP is adjusted for inflation?
nominal GDP
GDP
real GDP
exact GDP
14
Demand-Pull Inflation occurs when
federal reserve raises interest rates
cost of resources increase
we go to war
demand for goods exceeds supply
15
If the government is spending more than it's making it is running a...
surplus
deficit
16
Taxes can be used to raise and lower the money supply by the.
Federal Reserve
Federal Government
Mr. Loebsack
Kim Jung Un
