Economic Circular Flow
Cycles of Business
Banking
Federal Reserve
Monetary and Fiscal Policy
100
A nation's overall levels of income, employment and prices are determined by the interaction of spending and production decisions made by all households, firms, gov't agencies and others in the economy.
What is Circular Flow of Economics/ Economic Circular Flow
100
the rise and falll of economic activity over time; movement of the economy from good times to bad times and back again
What is business cycle
100
The government banks with the _______
What is The Federal Reserve Bank
100
There are _______ Federal Reserve Districts in the United States.
What is 12
100
Ordinary citizens cannot have an account with the Federal Reserve Bank.
What is True
200
A Circular Flow Model illustrates the exchange between __________________.
What is households, businesses, and government
200
The money that remains after all the costs of production have been paid is called _______
What is profit
200
The government banks with the _______
What is Federal Reserve Bank
200
Each member of the Board of Governors of the Federal Reserve Bank is appointed by the _______
Who is The President of the United States?
200
When using fiscal policy, the government will do just the opposite to control inflation than it does to control _______.
What is a recession.
300
Who REALLY owns the factors of production (land, labor, and capital)?
Who are households/people.
300
The _______ is the original amount of money that was borrowed.
What is the principal.
300
_______ is the amount of money put into an account.
What is Principal
300
_______ relates to money and banking.
What is Monetary Policy
300
A(n) _______ is a long-lasting and severe recession.
What is a depression.
400
Is the total market value of all goods and services produced in a country during a period of time (annually).
What is Gross Domestic Product (GDP
400
A business owned and controlled by one person is known as a _______.
What is Sole sole proprietorship
400
A safe deposit box is a place where a person ______
What is stores valuables
400
The _______ is the system related to taxation.
What is The Fiscal Policy.
400
_______ is an increase in the average price of all goods and services.
What is inflation.
500
Land Labor Capital Enterpris
What is Factors of Production)
500
A _______ is a business owned and controlled by two or more people
What is a partnership.
500
a time of very slow business activity, a trough
What is a recession
500
The central bank of the United States is known as the _______
What is The Federal Reserve
500
An example of this policy happened during the Great Depression when government spending increased and thousands of job programs were created.
What is fiscal.
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