Types of Economy
Unemployment
Business Cycle
Federal Reserve
Types of Taxes
100
a central authority (government) makes most of the economy decisions.
What is command economy ?
100
The structure of the work place changes the need for workers. New technology !
What is structural unemployment ?
100
Peak.
What is the top of the business cycle called ?
100
The central bank of the United States.
What is the Federal Reserve ?
100
The more money you make, the more you are taxed.
What is Progressive Tax ?
200
People & firms act in their own best interest. They vote about decisions.
What is Market Economy ?
200
Workers who are in between jobs. Like college graduates.
What is frictional unemployment ?
200
Contraction.
What is it called when the economy starts going down ?
200
It strictly controls the money supply within the United States.
What does the Federal Reserve do ?
200
People pay a higher portion of tax, the less money they make.
What is Regressive tax ?
300
Combination of both a market & command economy. People make economic decisions & the government intervenes when needed.
What is Mixed Economy ?
300
The season changes & the workers are no more needed for that job.
What is seasonal unemployment ?
300
Trough.
What is the lowest point of the economy ?
300
Monetary Policy.
What does the Federal Reserve control the money supply through ?
300
Everyone pays the same amount, proportional to their income.
What is Proportional tax ?
400
WHAT to produce ? HOW to produce ? FOR WHOM to produce ?
What is the basic questions of economy ?
400
When a business closes down & everyone one is laid off.
What is cyclical unemployment ?
400
Growth in the economy after a less prosperous period.
What is recovery ?
400
Chairman, Board of Governors, Federal Reserve Banks, Commercial Banks, & The Non-Bank Public.
What are the 5 organizations of the Federal Reserve ?
400
Lower income because a small increase in sales tax would not affect wealthy people.
Does sales tax hurt people with lower income or high income more ?
500
Mixed Economy.
What type of economics does the United States have ?
500
Actively look for a job.
What do you have to do to keep unemployment ?
500
When the economy is growing.
What is expansion ?
500
12.
How many Federal Banks are there ?
500
Regressive Tax.
What is tax is a sales tax ?
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