Macroeconomics 1
What policy involves the government and their policy decisons?
Fiscal Policy
What is the term for a nation’s economic production that has been adjusted for price changes?
Real GDP
Name one of the trade barriers a nation may use.
Import quotas or Tariffs
What does GNP stand for?
Gross National Product
Some people are worth melting for
Frozen
What does the term “business cycle” refer to?
Economic ups and downs or the flow of the economy
Why might printing more money not solve poverty?
Causes inflation
If the government spends more than it earns, what is that called?
Budget deficit
The total dollar value of all final goods and services produced within a nation
GDP
"'Greater good?' I am your wife! I am the greatest "good" you are ever gonna get!"
Incredibles
How do you calculate GDP?
Net Exports, Consumer spending, Government spending, business investments
What is the role of the Federal Reserve (or central bank) in the economy?
Money regulation
Name one of the main goals of macroeconomics?
Growth, employment, price stability or monitoring the health of the economy
What is the term for an income tax whose rate increases as income levels rise?
Progressive Tax
Quit, don't quit. Noodles, Don't noodles. You're too concerned with what was and what will be.
Kung Fu Panda
What’s the risk of expansionary policy?
Inflation or Increased government debt
Taxes to the federal government are increased
Contractionary Policy
A set of requirements issued by a federal government agency to implement laws passed by Congress.
Government Regulation
Banks lower the interest rates they give on loans
Easy Money Policy
Solitude is fine. Don't get me wrong after a hundred years... YOU GOA LITTLE NUTS
Treasure Planet
The economic indicator that measures inflation.
Consumer Price Index (CPI)
Congress approves an increase in the federal budget
Expansionary Policy
The Federal Reserve requires banks to hold more money in their reserves
Tight Money Policy
Which amendment gives the government the ability to take your property with compensation?
5th
Well they're just fine... A little dark, a little gloomy, and they're always... hey... full of dead people. What are you gonna do?
Hercules