GDP
What is the United States?
Consumer Price Index is a measure of the average change over time in the prices paid by consumers for a what?
What is a market basket?
What is the direct exchange of one set of goods or services for another?
What is barter?
What source does the government get the most revenue?
What is personal income tax?
As the cycle starts rising to its peak, inflation does what?
What is rises?
Off the books income and gambling are still counted towards GDP. True or false?
False.
What are 10 years?
The Federal Reserve regulates the amount of money in circulation in the United States to ensure money remains scarce.
What is limited supply?
When does the OMB start the budget process?
What is 1.5 years early?
When the cycle reaches the trough, unemployment is high or low?
Nominal GDP is adjusted for inflation. True or false?
False.
The coins and paper bills people use as money are called this.
What is currency?
When was the last time the United States had a budget surplus?
When is 2001?
The Great Depression occurred because of a prolonged this.
What is a recession?
Which type of GDP measures year-to-year economic growth?
What is real GDP?
When inflation reaches this percent, problems start to occur.
What is 5%?
Money acts as this to make it easier to save and invest.
What is store of value?
The Federal Reserve uses discount rates, open market operations, and reserve requirements to control this.
What is money?
Is the business cycle representative of micro- or macroeconomics?
What is macroeconomics?
GDP per capita is what type of GDP per person?
What is real GDP?
Hyperinflation occurs when the costs of goods and services rise over this percent in a month.
What is 50%?
An IOU voucher is an example of this type of money.
What is representative?
Expansionary this can lead to an increase in the National Debt.
What is fiscal policy?
The graph of the business cycle represents what over what?
What is GDP over time?