Business Cycle
High Point of business cycle (GDP stops growing)
What is Peak?
The sum total of the value of all the goods and services produced in a nation in a year.
What is GDP?
Main role of the Federal Reserve
What is to implement Monetary Policy/Control Money Supply for the US.
This entity controls monetary policies
What is the Federal Reserve
The entities that control fiscal policies
What is the President and Congress
The Scottish & Irish custom of guising, dressing in costume & getting rewards, was a predecessor of this activity
In a book by this man, the hobbit Frodo gets a ring granting invisibility from his cousin Bilbo
What is Tolkien?
To purposefully delay, or, a place where a horse is purposefully delayed
What is a stall?
Recovery after recession. Increased GDP & demand pull inflation
What is Expansion?
GDP divided by the population
What is GDP Per Capita
Give the two components of the dual mandate
What is price stability and maximum employment
This policy reduces the money supply (used to fight inflation)
What is Tight/Contractionary Policy
What is inflation
This expression meaning "do as I say" ends with a multi-lane road
my way or the highway
"Five golden rings" is a line from this holiday song
What is the twelve days of christmas
Some say you can't fight this, a municipal government building
What is city hall
Lowest point of the business cycle (GDP stops falling)
What is Trough?
GDP given in current prices, without adjustment for inflation.
What is nominal gdp?
It is a payment to the lender for using their money
Interest
This policy increases the money supply
What is Expansionary Policy?
Provide an example of expansionary fiscal policy
what are Tax cuts and increased government spending?
If you don't want to reveal your secrets in this party game, you may have to do something risky
truth or dare
In the late 1990s Galileo images revealed that this largest planet has a ring made of dust particles
What is Jupiter
Shady Albuquerque, New Mexico criminal lawyer Saul Goodman had his law office in this type of shopping center
What is a mini-mall (or strip mall)
GDP declining for over 6 months. (High unemployment, deflation of prices
What is Recession?
Inflation adjusted measure that reflects all goods and services produced by a country's economy in a given year.
What is real gdp?
When banks keep only a portion of your deposit at the bank, and loan out the rest
Fractional Reserve Banking
Provide 2 tools the federal reserve uses to implement monetary policy
What are Buying securities, lending money to banks, and paying interest on bank reserves.
Provide examples of how government would implement a contractionary policy
Increase taxes, cut down on government spending, reduce deficit
Succeed or fail is at the heart of this "watery" alliterative idiom
sink or swim
When it was first published in 1922, The Ring called itself "The world's foremost" magazine about this sport
What is boxing
This 2-word phrase means it's almost closing time at the bar & you'd better order your final round now
What is last call
Name all parts of the business cycle
What is Expansion, Contraction/Recession, Peak, and Trough.
This measures the prices of a market basket of goods that typical consumers purchase.
What is Consumer Price Index?
Government program that guarantees
up to $250,000 or deposits
FDIC
Fed’s primary tool for adjusting the federal funds rate is IORB. What is IORB
What is interest on reserve balances?
Standing policies that activate automatically without government intervention, usually during a recession
What are automatic stabilizers?
Robert Burns wrote, "Liberty's in every blow, let us" this, meaning succeed at all costs
do or die
In the movie the ring, Teenage girls Katie and Becca discuss an urban legend about a cursed videotape that causes whoever watches it to die in _____
What is 7 days
Proverbial sphere used to bar someone from membership in a group
What is black ball?