Government
When the Government affects the economy it is called what?
Fiscal Policy
When the Federal Reserve affects the economy it is called what?
Monetary Policy
When in a recession what type of policy should be used?
Expansionary Policy
When facing inflation what type of policy should be used?
Contractionary Policy
Who is Mr. Sparks' favorite Star Wars character?
Obi-Wan Kenobi
Something that people cannot be priced out of provided usually by the government is called what?
Public Goods
Who is responsible for buying and selling bonds? Don't say the FED/Federal Reserve.
Open Market Committee
Small, moving slow, high unemployment, people not buying stuff.
Describe inflation. What shape is the economy in?
The economy is too big. Prices are rising rapidly, people are able to buy less stuff with the same amount of money. People have bought too much stuff and lead to inflation.
What year did the NFL start?
1920
What two tools can the government manipulate the most to affect the economy?
Government Spending and Taxes
What 3 things does the FED manipulate the most to try and affect the economy?
Bonds
Discount Rate
Reserve Requirement
Describe what the costs and benefits are of Economic Regulations.
Costs are bad things as the outcome of regulations while benefits are good things that come from Economic Regulations
What are the 3 roles/jobs of the Gov't when it comes to the Economy?
Promote Maximum Employment
Promote Maximum Production
Fight Inflation
What year did Pokemon first come out?
Feb 27th, 1996
If the Economy is down and people aren't buying stuff what type of policy should the Government implement?
Fiscal Expansionary Policy
If the economy is in a depression what type of policy should the FED use?
Monetary Expansionary policy
If the Econ. is nearing inflation what policy should the gov't try to use?
Fiscal Contractionary Policy
The FED is battling against inflation, what policy do they need to use?
What was the first movie to have a cuss word in it?
Gone with the Wind. 1940
If the government wants to implement a Fiscal Expansionary Policy what do they need to do?
Raise Government Spending
Lower Taxes
How can the FED implement an Expansionary Policy?
Buy Bonds
Lower Reserve Requirement
Lower Discount Rate
Under a contractionary policy, what would the government's impact on be on the tools they manipulate?
Gov't spending should go down
Taxes should go up.
Sell Bonds
Raise Reserve Requirement
Lower Discount Rate
What game is accredited with being the very first video game?
Tennis for Two 1958.