CREDIT
What is a PERFECT credit score?
850
What is it called when the economy is on the rise?
Expansion
How does the government get their main source of money?
taxes
When the price of something increases, the demand....
decreases
What is inflation?
The increase of the price of a product- that is the same.
Ie. Milk gallon increasing in price
What is APR?
Annual Percentage Rate:
The tax rate based on down payment and credit
What occurs during expansion(2 things)
Businesses grow, Inflation slows down, more job opportunities, increase of wages
What does the government spend money on?
Public Benefits-
ie. roads, schools, bridges, public buildings.
When the price of something decreases the demand ...
increases
Who do you contact if you are a victim of identity theft?
The FTC- Federal Trade Commission
What is an example of collateral?
House, car, boat
When does inflation occur in the Business Cycle?
During contraction
What is the Fiscal Policy?
The gov.t's spending plan- budget.
When the SUPPLY of something increases, demand...
decreases
Who do you contact if you are a victim of wage theft?
The Dept. of Labor
What is Capacity?
Your ability to pay and provide
What is the overall shape of the Business Cycle?
Up and down, a rollarcoaster
What is a surplus?
Extra additional money +
When the SUPPLY of something decreases, the demand...
increases
What is a price celling?
It is a 'cap' that the government places that a price cannot exceed.
Character, Capacity, Capital/Collateral
What does the business cycle measure
The direction of the economy
What is a government deficit?
When gov. spending exceeds the amount of $ they actually have.
2. What is demand?
Supply is the quantity of a product
Demand is the want for the product
What is it called when the price to live in Nebraska is lower than the price to live in Florida?
Cost of living