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Vocabulary
Economic Variables
Demand
Goods and Services
Ups and Downs
100
The quantity of goods and services a person can buy with a given amount of money.
What is Buying Power
100
Figures used to measure economic performance are called
What is economic indicators
100
During a time of inflation, a person's buying power
What is decreases
100
A peak of economic activiy
What is prosperity
100
Who is the head of the Federal Reserve?
Who is Ben Bernanke
200
GDP is at it's lowest point during which part of the business cycle?
What is Depression
200
Economic Indicators measure:
What is How Much a country is producing whether its economy is growing how the country compares to others
200
The government agency that guides the U.S. economy is
What is the Federal Reserve
200
a rise in business activity after a recession or depression
What is recovery
200
Which president created the New Deal as a way to help the United States out of the Great Depression?
What is Franklin Roosevelt
300
GDP is at its highest point during which stage of the business cycle?
What is Prosperity
300
Give an example of an economic indicator
What is GDP, Inflation %, CPI, Unemployment Rate
300
When a downturn in one industry causes a downturn in another industry, it is called a _______ effect
What is ripple
300
a deep recession that affects the entire economy and lasts for several years
What is depression
300
The deepest freshwater lake in the world is
What is Lake Baikal, Russia
400
The total value of the goods and services produced in a country in a given year
What is GDP
400
The total amount of money a government owes is its
What is national debt
400
When the supply of goods is greater than demand it can result in
What is a surplus
400
economic activity slows down
What is recession
400
Wofford College beat what school this past weekend in a matchup of top 10 teams?
What is Georgia Southern
500
True/False: Though the United States has a very high GDP compared to some countries, it has a low standard of living
What is False
500
The Federal Reserve is a government agency that guides the economy by
What is regulating the amount of money in circulation controlling interest rates controlling the amount of money loaned
500
The point at which supply meets demand
What is equilibrium price
500
When did the great depression start?
What is Black Tuesday October 29, 1929
500
Who is the all time leading rusher in Oak Ridge football history?
What is Spencer Gulmire