Business Cycle
Trade
Unemployment
Random
Fiscal / Monetary Policy
100

High Unemployment, Low Inflation, Low GDP?

Trough

100

United States informs China they can only bring 100,000 tractors into the US as an Import. What type of trade barrier is this?

Quota

100

Aaron was laid off from his job at a chick fil a when the company bought a machine to replace her. What type of unemployment is this?

Structural

100

What is the best Index to measure inflation?

Consumer Price Index (CPI)

100

What is the nickname of the Central Bank of the United States?

The Fed

200

Unemployment rate is increasing, spending is decreasing and GDP is decreasing

Contraction or Recession

200

Group of countries that work together to make trade easier between each other, but impose barriers on other countries.

Trading Bloc

200

Unemployment that occurs when something bad happens such as a recession or economic downturn.

Cyclical

200

Comparing GDP from year to year is the best way to measure Economic ______________

a. price

b. growth

c. opportunities

d. Equity

Growth.

200

Policy that the Fed uses to fix the economy.

Monetary Policy

300
Low Unemployment, High inflation, High GDP

Peak

300
Canada has decided to put an extra tax on all cars coming from Germany in order to protect Canadian jobs. What type of trade barrier is this?

Tariff

300
When you graduate and look for a job, this is the most common type of unemployment?

Frictional

300

If you have a CPI of 111, 121, and 131.  What has happened from month to month?


Prices have increased.

300

Policy the Federal government uses to fix the economy

Fiscal Policy
400

If we are in a Trough, what type of policy is the best way to get out of it?

A. Contractionary

B. Expansionary

B. Expansionary

400
Russia continues to bomb women and children in Ukraine.  The United States has claimed that they will not trade at all with Russia. This is called an _______________.

Embargo

400

Term associated with 4%-6% unemployment rate?

Full Employment

400

In order to determine the inflation rate, an economist must add the 8 _______ ________ to determine the CPI?



Market Basket

400

Assume the economy is having high unemployment and low inflation.  Which fiscal policy would be the best to use to fix the problem?

a. Decrease taxes

b. Increase the discount rate

c. Increase taxes

d. Decrease government spending

a. Decrease taxes

500

The government decides to Increase Taxes and Decrease government spending. What type of policy is this?

Contractionary Policy

500

If a country places a trade barrier on a country, what two things does it do for those specific goods?

Less foreign products

More expensive foreign products

500
If you are at full employment, 4%-6%, what is the cyclical unemployment rate?

0%

500

When there is too much money in the Economy, such as stimulus checks, decrease in taxes....what is that inflation theory called?

a. Quantity Theory

b. Push Cost Theory

c. Pull Demand Theory

Quantity Theory

500
Increase personal taxes and increase government spending.


a. Contractionary Policy

b. Expansionary Policy

Contractionary Policy

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