Show:
GDP
UNEMPLOYMENT
COMPONENTS OF GDP
INFLATION
POTLUCK
Candy Trivia
100
What means current level?
What is nominal?
100
A stay at home mom looks for a job
What is frictionaly unemployed
100

George buys a 2020 brand new car

What is not in GDP

100
Inflation caused by too much money being spent by the consumers?
What is demand pull inflation?
100
Declining of the GDP for 6 months is called
What is a recession?
100

Who was the chairman of the FED in the review video?

Janet Yellen

200
The total amount of final goods and services produced in a given year
What is GDP?
200
A ski instructor looses his job at the beginning of spring
What is seasonal unemployed
200
George buys a newly built home?
What is investment?
200
When workers ask for higher wages, which causes prices to rise, which causes workers to ask for higher wages?
What is wage spiral inflation?
200
To find the unemployment rate
What is number of unemployed/labor force X100
200

Who is the current chairman of the FED?

Jerome Powell

300
What word means adjusted for inflation?
What is real?
300
A bank teller looses their job due to ATM machines and Smart Phones
What is Structual unemployment
300
George buys a used suit.
What is not counted in the GDP
300
Inflation should be at or below
What is 2%?
300
The phases of the business cycle?
What is Trough, expansionary, peak, contractionary
300

What is an example of non-discretionary fiscal policy?

Unemployment Benefits

400
Price of the Base year X Q of the current year =
What is Real GDP?
400
George, the construction worker, lost his job due to the slowdown of the housing market.
What is Cyclical unemployment
400
George's Hair Salon buys shampoo?
What is not counted in the GDP
400
When the price of resources increases, causes what kind of inflation?
What is cost push inflation?
400
What is the formula to find the real interest rate?
Nominal interest-inflation rate
400

The money multiplier equation.

1/rr

500

The formula for GDP deflator is

What is NGDP/RGDP X 100

500
George lost his job, looked for a job, could not find a job, and gave up. George is referred to as a
What is discouraged worker
500
The Mayor of Brentwood receives their salary:
What is Government?
500
Formula for determining inflation?
What is Change in Pl/beginning Pl X 100
500
What two types of unemployment make up the Natural rate of unemployment?
What is frictional and structural?
500

The biggest component of the M1 money supply.

Demand Deposits