Economic Indicators
This is the total monetary value of all goods and services produced in a country during a specific period of time.
What is Gross Domestic Product (GDP)?
This refers to the federal government's attempt to influence or stabilize the economy through taxing and government spending.
What is Fiscal Policy?
This is a tax on goods or services that are imported or exported between countries.
What is a Tariff?
This is when all sectors of the economy try to buy more goods and services than the market can produce.
What is Demand-Pull Inflation?
The potential for businesses to lose jobs and only hire highly-qualified or highly-experienced workers is a disadvantage of this governmental policy in the economy.
In order to be considered an "unemployed person," you need to have these two qualifications.
What is people that are actively seeking employment and are available for work?
People who hold the belief that the consumers drive the economy and government intervention is necessary for the economy's health and should stabilize the economy will be on this side of the economic debate.
What is Keynesian Economics or Demand-Side Economics?
This is a policy that allows for the exchange of goods and services across borders with few or no restrictions.
What is Free Trade?
This is when the rising input costs, especially energy or organized labor, drive up the cost of products for manufacturers and thus cause inflation.
What is Cost-Push Inflation?
This refers to an unethical business practice where the boss will favor employees who are related to them.
What is Nepotism?
This is a measure of the average economic output per person in a country or a region.
People who hold this view argue that the government should largely stay out of the economy and in order to stimulate the economy, you need to lower government regulations and lower corporate taxes on producers.
What is Supply-Side Economics?
This is a policy that restricts trade, often to protect certain jobs or industries.
What is Protectionism?
This is when the money supply grows faster than the real GDP of a nation.
What is Excessive Monetary Growth?
This act allows employees to take unpaid medical leave for family or medical reasons.
What is FMLA?
These are the individuals who are currently employed or actively seeking employment.
What is the Labor Force?
According to John Maynard Keynes, these are the two main things the government should do during times of an economic recession.
What is increase government spending and decrease taxes?
What is Protectionism?
In order for Stagflation to occur, these 3 factors are needed.
What is high inflation, low economic growth, and high unemployment?
This is what Martha Stewart went to jail for.
What is Insider Trading?