Macroeconomic Indicators
Monetary Policy
Fiscal Policy
The Budget
Miscellaneous
100

When the economy is experiencing inflation, average prices of all goods and services are ____________.

rising

100

This entity is responsible for Monetary Policy in the USA.

The Federal Reserve System

100

Which entity is responsible for Fiscal Policy in the USA?

The government (Congress and the President)

100
The US ________ has grown tremendously over the past 30 years

debt

100

When the economy begins to suffer a bit, economists call it a...

Recession

200

These three macroeconomic indicators are used to measure the "health" of the US economy.

CPI, GDP, and Unemployment Rate

200

If the economy needs a boost, then the central bank will pursue _____________ Monetary Policy.

Expansionary

200

What are the two ways Fiscal Policy is carried out?

Taxation and Government Spending

200

When the government spends exactly as much as it brings in, it has a...

Balanced Budget

200

During the Great Depression, what happened to prices?

Massive deflation (they fell)

300

To be counted as "unemployed" in the US, you need to be...

out of work and looking for work

300

When the central bank is buying or selling bonds, it is conducting _______________________________.

Open Market Operations

300
If the government wanted to bring in more revenue to pay for services (education, the military, environment, infrastructure, the FBI, etc) they would need to _________________.

raise taxes

300

The US Government borrows money by...

Selling US Treasury Securities (IOUs)

300

The Federal Government of the US (Washington DC) does not spend much money on... (NAME ONE)

Education, Foreign Aid, Environment

400

When comparing two countries and their economies at one point in time, you should use this measurement.

Nominal GDP

400

By lowering this, the central bank can encourage banks to take out more loans

The Discount Rate

400

The three biggest government expenses in the US are usually...

Social Security, Defense, and Health Care (Medicare/Medicaid)

400
When the government spends more than it brings in, it is operating at a...

Deficit

400

When it comes to overall average prices, most economists say this is best for an economy.

price stability

500

When inflation happens, consumers tend to _________ more today.

spend

500

Name three ways the central bank could SHRINK the money supply.

Selling bonds, raising the Discount Rate, and raising the Reserve Requirement

500

A government tax on goods that are imported into the United States is called a...

Tariff
500

Why has the government spent so much money over the past two years?

The economic crisis caused by the Coronavirus Pandemic

500

If Snyderland produces $1,000,000 worth of goods and services ("stuff") and has a population of 25 people, what is its per capita GDP?

$40,000

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