Economic Indicators
This is the amount of people without a job in the entire country at a given time.
Unemployment
A recession may be coming if unemployment is high or low?
high
The raising or lowering of interest rates to address economic issues.
Monetary policy
A tax on imported goods
tariff
This is the total value of all goods and services made in a country.
GDP
The raising or lowering of taxes by the government to address economic issues
Fiscal Policy
Which government institution regulates interest rates and the printing of money.
The Fed
A set limit on the number of a specific that can be imported into a country.
Quota
This is the measurement of the increase of prices for consumers in a year.
CPI
To stimulate businesses to grow and increase production in order increase employment, would the government raise or lower taxes?
lower
The cost of borrowing money through various methods such as loans is called _______________.
Interest Rates
Embargo
A high GDP indicates an economy is growing or shrinking?
growing
When the government is spending more money than it collects through taxes or increases its spending. (expansionary or contractionary)
Expansionary Fiscal Policy
If inflation (the price of goods) is increasing rapidly the Fed may raise interest rates in order to _________________ demand causing prices to fall.
decrease
Would a special interest group representing farmers in the U.S. support or oppose a tariff of 15% on all imported grain and corn from other countries?
support
CPI (Consumer Price Index) measures what economic trend?
Inflation
If taxes are lowered and people have more money to spend on goods and services they need, what has increased?
Purchasing Power
The lowering of interest rates would encourage people to
A. Borrow more and spend more money
B. Save money in investments and avoid borrowing from banks
A
Would a special interest group representing major U.S grocery stores support or oppose a tariff of 15% on all imported grain and corn?
Oppose