GDP
What does GDP stand for
What is Gross Domestic Product
What is a business cycle?
A pattern of ups and downs that the economy tends to follow
What is Inflation?
When the buying power of money decreases and prices increase
The central bank of the United States is know as?
The Federal Reserve System
What is the main school color?
Maroon
What does the 'domestic' part of GDP refer to?
Within a country's borders
During which stage of the business cycle does the GDP INCREASE quarter after quarter?
Expansion
How is inflation measured in the U.S.?
By the Bureau of Labor and Statistics using the Consumer Price Index (CPI)
Who is the head of the Federal Reserve?
The Fed Chairman or Fed Chief
What is the school mascot?
Kangaroo
What are net exports in the context of GDP?
Exports minus imports
If the economy is BOOMING, at the very best it can be, what part of the business cycle is this?
Peak
What does the Consumer Price Index (CPI) measure?
The price change of a selected group of consumer goods and services (market basket) every month over time
Why was the Federal Reserve created?
To stabilize and strengthen the U.S. banking system
When is graduation?
TOMORROW!!!!
How does GDP per capita help in comparing different countries?
By showing and comparing the total population
A severe recession that continues for a long period of time
Depression
What is a fixed income?
An income that remains the same regardless of inflation
How does the Fed (Federal Reserve) promote a healthy economy?
By using monetary policy/tools
What are the Roo Values
Integrity, Success, Collaboration, Relationships, School Pride
Is the steel used in construction considered a final good?
No
A period when GDP is negative for two consecutive quarters
Recession
What historical period in the U.S. was characterized by deflation?
The Great Depression
Money that is in actual physical use for daily transactions is known as what in terms of the money supply?
M1
When was Killeen High School established?
1882