Monetary V.S. Fiscal
The type of policy carried out by the Federal Reserve.
What is Monetary Policy?
(What does monetary policy look like?)
This acronym stands for the total value of all final goods and services produced within a country in a year.
What is GDP?
The type of fiscal policy that's aimed at shifting AD left
What is contractionary fiscal policy?
The building that we are currently in (Full Name)
What is the Beth Ray Center for Academic Support?
The amount that government spending exceeds taxation in a given period of time.
What is a budget deficit?
(Is this the same as debt?)
Who is congress?
This term describes the value of the next best alternative that is given up when making a decision.
What is opportunity cost?
(Short or Long Run) The time frame in which the economy is impacted by fiscal policy.
What is short-run?
(Why?)
What is Bexell Hall?
Investment opportunity
Seen as safe investment
Held solid during Great Recession & its aftermath
What are the reasons people value treasury securities?
(M, F, or BOTH) The type of policy that aims to impact AD
What is BOTH
(Can these impact SRAS and LRAS?)
The theory that purchasing power in different countries should be the same when stated in a common currency
What is purchasing power parity?
Information
Formulation
Implementation
What are the 3 types of time lag?
(What are each?)
The year that OSU was founded.
What is 1868?
The financial product that the government uses to borrow from savers.
What are Treasury Securities
(What are the 3 types?)
(M, F, or BOTH) Uses government spending and taxation to steer the economy.
What is fiscal policy?
Unemployment caused by short-term economic fluctuations
What is cyclical unemployment?
(E or C) Type of FP to implement if prices are too high & quantities too low.
What is expansionary?
The team that OSU mens basketball played against last Wednesday (we won 66-64)
Who are the University of North Texas Mean Green?
Growing interest, potentially growing inflation, and the possibility of misspending make up the "_______ of government debt"
What are costs?
(What are the benefits?)
(M, F or BOTH) Can be categorized as either expansionary or contractionary.
What is BOTH?
A curve that shows the relationship between the overall price level in the economy and total production by firms in the long run
What is the LRAS Curve?
Taxes and government spending that affect fiscal policy without specific action from policy-makers
What is an automatic stabilizer?
The first building to be constructed on the OSU campus; originally named "the Administration Building"
What is Community Hall?
The theory that if the government cuts taxes but not spending, behavior will not change.
What is the theory of Ricardian Equivalence?
(Will this always hold)