The Business Cycle
Fiscal/Monetary Policy
The Federal Budget
Random Trivia
100

It is the highest point within the economic/business cycle.

What is the peak?

100

Fiscal Policy is their toolbox.

Who is the government (Pres & Congress)?

100

Federal budget items which do not have to be approved by Congress

What is Non-Discretionary ?

100

Louis Armstrong was a master of which musical instrument?

What is the trumpet?

200

It is the lowest point in the business cycle.

What is Trough?

200

Monetary Policy is their toolbox.

Who/What is the Federal Reserve (the Fed)?

200

What is one main source of revenue for the Federal Government?

What is/are income taxes, corporate taxes or social security taxes?

200

This is the number of time zones in Russia.

What is 11?

300

A drastic economic downturn that lasts for roughly 3 or more years and sees a 10% or more drop in real GDP.

What is a depression?

300

When the federal government spends more than it brings in through tax revenue we say they are running one of these.

What is a defecit?

300

What are three discretionary budget items?

Defense, Transportation, Education, etc.

300

Where was the Caesar Salad invented?

Tijuana, Mexico

400

A decline in employment, consumer spending, and general economic downturn for at least two fiscal quarters describe this portion of the business cycle.

What is a Recession

400

During a contractionary period, the Fed would likely do this to the discount rate.

What is decrease the discount rate?

400

A non-discretionary federal budget item which must be paid for every year (hint: this can accumulate)

What is the federal interest on debt? 

400

The Hair Dryer was invented in this year.

(Within 10.)

What is 1888?

500

This period of the business cycle is typically characterized by growth in real GDP and increased inflation.

What is expansion?

500

In an attempt to provide jobs and financial relief to the American public, the government could increase this.

What is Government spending?

500

How would a balanced federal budget positively affect the economy? 

Answers vary 

500

Grunge music was popularly coined in this decade?

What is the 90s?

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