Poverty and Business Cycle
Whats the name of this unit?
Macroeconomics
Contractionary monetary policy will do what to inflation?
Decrease it
You buying a phone is what component of GDP?
Government spending is an example of _____________ policy
Fiscal
Best an economy gets before a downturn
Peak
What is real?
Newton County bulding a new roundabout is what component of GDP?
Government SPending
The type of unemployment that results from your skill no longer being needed in the workforce
What is Structural Unemployment?
Money supply is related to what type of policy?
Monetary
When GDP is presented in current dollars.
Nominal GDP
Equation/components to find GDP
What is C + I + G + NX OR Consumption + Investment in Capital + Government Spending + Net Exports.
How many people make up the Board of Governors?
7
Market basket approach to finding change in prices is called this
CPI
Lumber being used to make a house doesn't count towards GDP because it is a ___________
Intermediate good
You get laid off because business is slowing down.
What is cyclical unemployment.
Selecting a base year, assigning it a number of 100, and calculating index numbers for other years to determine how prices have changed is the method for creating this.
What is a price index?
Amidst concerns over business development and government instability. China's unemployment increased from 3% to 7%.
Which phase of the business cycle are they in?
Recession
Goal Inflation Rate in the US
2%
or 1-3%
What type of GDP would you look at when comparing two countries to see who is more productive?
What is GDP per capita?
When an individual with a PhD. in Botany works at Mcdonalds this is an example of __________
What is under-employment?
Interest Rates will ___________ under expansionary monetary policy
decrease