15.1
Federal Government's attempt to influence or stabilize the economy through taxes and spending
Fiscal Policy
When we are talking about supply-side we are referring to the ___________
Business
__________________ focuses on the economy as a whole and decision making by large units.
Macroeconomics
What is the largest retail chain in the world?
Walmart
Who painted the Mona Lisa?
Leonardo Da Vinci
GDP=__+I+__+(x-m)
GDP=C+I+G+(x-m)
Relaxing or removing of government oversight
Deregulation
Where aggregate supply and demand meet it is the m_____________ e______________
Macroeconomic Equilibrium
Which company launched the first commercial 5G network in the world?
T-Mobile
In what US state was Abraham Lincoln born?
Kentucky
Programs that automatically trigger government spending on certain economic benefits when economic growth slows down are Automatic Stabilizers, names 2
Progressive income tax, unemployment insurance, entitlements
Name a way the government could help with business output
cutting taxes or regulations
Using the aggregate supply and demand it helps us account for 2 problems, i_________ and r_____________
Inflation and Recessions
What is on of the the best selling product of all time? (it is a toy)
Rubix Cube
Which animal has the largest eye in the world?
Giant Squid
Which type of lag is when it takes time to agree on a solution to economic downturns
Often take about a year to pass even simple laws and congress is likely to fight over it
Legislative Lag
Demand side did not seem to help unemployment and inflation in the 1970s so Ronald Reagan made supply-side policies which favored c______________ ideals
Conservative
more taxes on businesses
In what country did the first Starbucks open outside of North America?
Japan
What year did the Titanic sink?
1912
This idea (Keynes) thought that ____________ spending was the most unstable and we need more _____________ spending or programs to fix that
Business spending, government spending
When Ronald Reagan tried this, government spending did not decrease, why?
Military spending
Name a way aggregate demand would increase
the people having more money
What year was the first tweet
2006
In STAR WARS, where is princess Leia from???