Inflation
This is the simple definition of inflation.
When things get too expensive?
GDP stands for this.
What is Gross Domestic Product?
This is the name of the US's central bank.
What is the Federal Reserve or the FED?
Negative effect of Expansionary policy?
Inflation
Which Country finished with the most medals in the Winter Olympics?
Norway
This occurs when you've been in a trough for six months or longer
What is a recession?
Explain Eminent Domain
the government’s power to take private property for public use while providing fair compensation to the owner
The definition of money.
What is anything commonly accepted in exchange for goods and services?
True/False: The fourth amendment gives the government power of eminent domain.
False! It's the fifth amendment that protects the rights of the individual from government overreach
What was the number one song of 2025?
Die with a Smile by Bruno Mars and Lady Gaga
The Consumer Price Index (CPI) measures this.
What is inflation?
This is the difference between Nominal GDP and Real GDP.
What is Real GDP is adjusted for inflation.
This action would be expected of the FED in a sluggish economy.
What is lower the interest rates to encourage consumer spending?
In a monopoly, this generally happens to prices. (Include the main reason).
What is go up because there is no competition.
Top 3 energy drinks by Sales numbers.
1. Red Bull
2. Monster
3. Reign
4 levels of the Business Cycle
Expansion, Peak, Contraction, Trough
Three methods used by the Federal Reserve is...
1. Reserve Requirement
2. Discount Rate
3. Buying and selling of Bonds
True/False: The FED directly sets the interest rates charged to consumers. Explain.
What is false? The FED sets the interest rates for banks. Then banks pass on those rate changes to their customers. Thus the FED INDIRECTLY affects consumers' rates.
Name an example of a monopoly.
Amazon
How many students are in Mr. Warnings three classes COMBINED?
79
Equation for GDP?
GDP= C+I+G+NX
5 regulatory agencies
1. FTC (Federal Trade Commission)
2. FDA (Food and Drug administration)
3. EPA (Environmental Protection Agency)
4. SEC (Securities and exchange commission)
5. Small Business Administration
Who is our current NC Governor?
Who is Josh Stien?
What is the act that is used to fight monpolies?
Sherman Antitrust Act
how many doors are in the school?
137