Standard 9
Standard 10
Standard 10/Standard 11
Standard 11/Standard 12
Standard 12
100
Traditional, Command, Market, & Mixed
What are the types of economies?
100
Total value of all goods and services produced in a nation over a specific period of time, usually a year
What is a Gross Domestic Product (GDP)?
100
Substained period during which a nation's total output of goods and services increases
What is an economic growth?
100
The total value of goods and services that all firms would produce in a specific period of time at various price levels
What is an aggregate supply?
100
How the government spends money and imposes taxes
What is a fiscal policy?
200
Government decides what to produce
What is a command economy?
200
Shows monthly changes in the prices of goods and services by monitoring the price of things usually purchased by consumers
What is the Consumer Price Index (CPI)?
200
The percentage of a nation's labor force that is currently not working, but actively looking for work
What is an unemployment?
200
The amount of money owed by the federal government
What is a national debt?
200
The budget shows how and where the government will spend its money
What is government spending?
300
Consumers decide what is produced
What is a market economy?
300
Often occurs when consumer demand is high and supply is short
What is an inflation?
300
Structural Unemployment, Frictional Umemployment, Seasonal Umemployment, & Cyclical Unemployment
What are the types of unemployment?
300
How much over budget the U.S. government is year to year
What is a national deficit?
300
The more money you make, the more you are taxed
What is Progressive Tax?
400
Economic Freedom, Economic Efficiency, Economic Equity, Economic Security, Full Employment, Price Stability, Economic Growth
What are the seven goals of an economy?
400
Producers charge less and make less profit
What is a deflation?
400
Peak, Contraction, Trough, Recovery, & Expansion
What is a business cycle?
400
It strictly controls the money supply within the United States
What is a federal reserve?
400
People pay a higher portion of tax, the less money they make
What is regressive tax?
500
The government makes law in order to control what businesses do in order to product the consumer
What is the government regulation?
500
When unemployment and prices rise at the same time
What is a stagflation?
500
Time when the economy is in contraction for two consecutive quarters (6 to 8 months)
What is a recession?
500
Actions by the Federal Reserve System to expand or contract the money supply in order to affect the cost and availability of credit
What is a monetary policy?
500
Chairman and Board of Governors, Federal Reserve Banks, & Member Banks
What is the Organization of Federal Reserve?
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