The Business Cycle
It is the highest point within the economic/business cycle.
What is the peak?
Fiscal Policy is their toolbox.
Who is the government (Pres & Congress)?
Federal budget items which do not have to be approved by Congress
What is Non-Discretionary ?
Louis Armstrong was a master of which musical instrument?
What is the trumpet?
It is the lowest point in the business cycle.
What is Trough?
Monetary Policy is their toolbox.
Who/What is the Federal Reserve (the Fed)?
What is one main source of revenue for the Federal Government?
What is/are income taxes, corporate taxes or social security taxes?
This is the number of time zones in Russia.
What is 11?
A drastic economic downturn that lasts for roughly 3 or more years and sees a 10% or more drop in real GDP.
What is a depression?
When the federal government spends more than it brings in through tax revenue we say they are running one of these.
What is a defecit?
What are three discretionary budget items?
Defense, Transportation, Education, etc.
Where was the Caesar Salad invented?
Tijuana, Mexico
A decline in employment, consumer spending, and general economic downturn for at least two fiscal quarters describe this portion of the business cycle.
What is a Recession
During a contractionary period, the Fed would likely do this to the discount rate.
What is decrease the discount rate?
A non-discretionary federal budget item which must be paid for every year (hint: this can accumulate)
What is the federal interest on debt?
The Hair Dryer was invented in this year.
(Within 10.)
What is 1888?
This period of the business cycle is typically characterized by growth in real GDP and increased inflation.
What is expansion?
In an attempt to provide jobs and financial relief to the American public, the government could increase this.
What is Government spending?
How would a balanced federal budget positively affect the economy?
Answers vary
Grunge music was popularly coined in this decade?
What is the 90s?