BUSINESS CYCLE
ECONOMIC GOALS
GOVT. SPENDING
RANDOM
THANKSGIVING TRIVIA
100
WHAT PHASE IS THE THE BUSINESS CYCLE GOING THROUGH IF THE ECONOMY IS GROWING?
EXPANSION
100
WHAT DOES GDP STAND FOR?
GROSS DOMESTIC PRODUCT
100
HOW DOES THE GOVERNMENT GET ITS MONEY?
TAXES
100
WHAT COUNTRY DID WE LEARN ABOUT WHO HAD A TERRIBLE PROBLEM WITH INFLATION
ZIMBABWE
100
WHAT OTHER COUNTRY BESIDES THE USA CELEBRATES THANKSGIVING?
CANADA
200
THE HIGHEST POINT IN THE BUSINESS CYCLE IS CALLED THE...
PEAK
200
WHAT ARE THE THREE GOALS OF THE ECONOMY?
ECONOMIC GROWTH, STABLE PRICES (LOW INFLATION), FULL EMPLOYMENT
200
WHAT IS THE BIGGEST EXPENSE FOR THE FEDERAL GOVERNMENT?
MILITARY
200
GIVE AN EXAMPLE OF SEASONAL UNEMPLOYMENT
MALL SANTA LOSES HIS JOB AFTER CHRISTMAS SEASON
200
WHAT WAS THE NAME OF THE FAMOUS SHIP THE PILGRIMS SAILED TO AMERICA ON?
MAYFLOWER
300
THE LOWEST POINT IN THE BUSINESS CYCLE IS CALLED A....
TROUGH
300
WHAT STATISTIC DO WE USE TO MEASURE INFLATION? A) GDP B) CPI C) UNEMPLOYMENT RATE D) EXCHANGE RATES
CPI (CONSUMER PRICE INDEX)
300
FROM WHAT KIND OF TAX DOES THE GOVERNMENT MAKE THE MOST MONEY? A) CORPORATE INCOME TAX B) SOCIAL SECURITY TAX C) PERSONAL INCOME TAX D) ESTATE TAX
PERSONAL INCOME TAX
300
HOW MANY TRILLIONS OF DOLLARS IS THE USA IN DEBT?
17 TRILLION
300
WHAT WAS THE NAME OF THE INDIAN GUIDE WHO HELPED THE PILGRIMS SURVIVE THE FIRST WINTER? A) SQUANTO B) POWATUCKETT C) GERONIMO D) POCAHONTAS
SQUANTO
400
GDP IS USED TO MEASURE WHAT ECONOMIC GOAL?
ECONOMIC GROWTH, PRICE STABILITY, FULL EMPLOYMENT
400
WHAT COUNTRY HAD THE LOWEST GDP PER CAPITA, $600 PER PERSON
SOMALIA
400
WHAT IS IT CALLED IF THE GOVERNMENT SPENDS MORE MONEY THAN IT MAKES? (OPPOSITE OF A SURPLUS)
DEFICIT
400
WHAT IS HYPERINFLATION?
WHERE THE INFLATION RATE GETS OUT OF CONTROL
400
WHAT YEAR WAS THE FIRST THANKSGIVING DINNER HELD?
A) 1492 B) 1576 C) 1621 D) 1777
500
GIVE ONE EXAMPLE OF AN EXTERNAL FACTOR THAT COULD EFFECT THE ECONOMY
WARS, NATURAL DISASTERS, FOREIGN ECONOMIES, TERRORIST ATTACKS ETC
500
WHAT IS GDP?
TOTAL VALUE OF ALL GOODS AND SERVICES PRODUCED WITHIN A COUNTRY IN ONE YEAR
500
WHAT IS BOTH A MAJOR SOURCE OF REVENUE AND A MAJOR EXPENSE FOR THE GOVERNMENT?
SOCIAL SECURITY.
500
WHAT IS FRICTIONAL UNEMPLOYMENT?
WHERE A WORKER IS IN BETWEEN JOBS, OR WORKING AT A JOB HE/SHE IS OVERQUALIFIED FOR.
500
WHAT WAS THE NAME OF THE SETTLEMENT WHERE THE FIRST THANKSGIVING WAS LOCATED? A) JAMESTOWN B) ROANOKE C) PLYMOUTH D) BOSTON
PLYMOUTH
M
e
n
u