A period of time during which sales of a product or business activity increases very rapidly
100
A severe and prolonged downturn in economic activity
200
What is the reserve requirement?
amount of money in bank supply
200
What is the difference between simple and compound interest?
Interest on principle vs interest on interest
200
What is a reserve?
200
A marine in Japan is an example of empoloyed, unemployed or neither?
neither
200
A student fresh out of college searching for a job is an example of employed, unemployed or neither
300
What is monetary policy?
The actions that the federal reserve system takes to influence the level of real gdp
300
Find the Simple interest $800 7% interest 5 years
300
What are 3 characteristics of money?
300
The stage of the economy's business cycle that marks the end of a period of declining business activity and the transition to expansion is the definition of what?
300
A significant decline in activity across the economy, lasting longer than a few months.
400
What is fiscal policy?
The use of government spending and revenue collection to influence the economy
400
Rule of 72: $200000 at 25% interest
400
What is the difference between commodity and fiat money?
any good that has value and can be traded vs money that is valuable due to law
400
A 14 year old student looking for a job is an example of unemployed, employed or neither
neither
400
What is a wage price spiral?
500
What happens when the feds sell securities?
Interest rates go up
500
Solve this problem using simple interest: $40,000 17% interest 10 years
500
How many years must an economy be in a recession before it can be considered a depression?
500
The phase of the business cycle when the economy moves from a trough to a peak. It is a period when business activity surges and gross domestic product expands until it reaches a peak.