Measurements of an Economic System
Business Cycle
Unemployment
Federal Reserve Bank
Fiscal and Monetary Policy
100
What is GDP and what does it measure
What is Gross Domestic Product and it measures all goods and services a country creates within a year.
100
Name the stages of the business cycle (in a cycle order)
What is Peak, Recession, Depression, Recovery.
100
In order to be unemployed one must be
What is over 16 and actively searching
100
The Federal Reserve Bank is really known as
What is central banking system for the country
100
Fiscal Policy
What is policy created that determines how money is spent in an economy.
200
What are the four ways to measure the health of the economy?
GDP, Unemployment, Inflation, and Economic Growth
200
If unemployment is slowly rising and spending is falling slowly we are in a...
What is recession
200
The three types of unemployment
What is structural, cyclical, and frictional
200
Who sits at the head of the Federal Reserve Bank
What is Board of Governors
200
MOnetary Policy
What is policy created to determine how money is regulated within an economy.
300
What is inflation and how is it measured?
What is steady increase in prices and CPI (Consumer Price Index)
300
Unemployment Rates have reached 40% and there is low productivity and low morale
What is depression
300
The unemployment rate equation
What is unemployed/(labor force) *100
300
Is there a Fed Reserve Bank in Atlanta and if so, where?
What is yes, and Peachtree St.
300
The two types of Fiscal and Monetary Policy
What is Expansionary and Contractionary
400
What is the formula for economic growth?
What is Year 2 GDP-Year 1 GDP/Year 1 GDP
400
What type of people would inflation hurt?
What is those who are on a fixed income
400
An example of structural unemployment
What is teacher discretion
400
The FED is responsible for creating (2 things)
What is monetary and fiscal policy
400
The three methods by which Monetary Policy is implemented
What is Reserve Requirement, Open Market Transactions, Discount Rates
500
What is the formula used when calculating GDP and what does each letter stand for?
What is (C+I+G+Nx)
500
BONUS~!!
BONUS!!!
500
BONUS
BONUS
500
How are the board of governors elected/selected? How long do they serve and of what caliber are they selected>
What is appointed by the president and confirmed by the senate. 14 years, and those who work closely with banks and business communities.
500
National Debt and Budget Deficit
What is debt that has collected over a certain amount of years, and deficit occurs when spending is greater than revenue
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