Unemployment/ Business Cycle
This stage of the business cycle is when real GDP stops rising at a lower than normal unemployment rate.
Peak
This term refers to the total value of all final goods and services produced within a country in one year.
Gross Domestic Product (GDP)
In the popular HBO series Game of Thrones, this house is known for their regality and affinity with dragons.
a _________ occurs when a country imports more than it exports.
Deficit
What are the primary functions of a bank?
Storing and lending
Unemployment moves ______ with the Business Cycle
Inversely
What is the formula for GDP
C+I+G+NX
This African country is arid, coastal and is a former German Imperial colony.
Namibia
The "Gold Standard" where the dollar was backed by Gold describes a _____ exchange rate.
Fixed
The ______ enacts monetary policy, _____ enacts fiscal policy.
Federal Reserve, Congress
2 Consecutive Quarters of declining real GDP signals:
Recession
Products used as inputs to produce other goods or services that are non counted towards GDP are known as:
Intermediate Goods
Totodile, a starter pokemon from the Johto region, can experience a mega-evolution in it's third evolution. What is the type of this mega-evolution?
Water/Dragon
This describes the rationale between two countries trading goods to focus on the goods they make best and import goods that would take resources away from their most-specialized goods.
Comparative Advantage
% of income taxes remain the same for all income levels
Proportional/ Flat Tax
What is the natural rate of unemployment?
5-6%
Per Capita GDP accounts/measures GDP in relation to ______. Real GDP accounts/measures GDP in relation to _______.
Population, Inflation
This company recently launched a bid to overtake Warner Brother's Studios in a hostile takeover.
Paramount Entertainment
This trade barrier is usually done for political reasons rather than for economic protectionism.
Embargo
Keynesian Economics
A company that reduces labor through an enhancement of Physical Capital and technological efficiency in the production of resources pushing production to a previous unattainable point is describing what type of unemployment.
Structural Unemployment
Name all aspects of GDP that ARE NOT INCLUDED
Intermediate Goods, Second Hand Sales, Non-Market Transactions, Underground Economies, Transfer Payments.
This country recently announced plans for a new Disney Park.
United Arab Emirates
The European Union is what type(s) of organization?
IGO, Trade Alliance/ Union
What are the healthy and natural rates of Unemployment, Inflation and Price Stability?
(2-3%), (5-6%), (2-3%)