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Terms
Politics
Taxing
International
Potluck
100
This term refers to a shortfall in the budget.
What is deficit
100

President Biden and Congress have passed a full embargo against trade with this country due to its invasion of a neighboring country.

What is Russia.

100
What is the term for a tax on imports?
What is tariff
100
This is the trade agreement with Mexico and Canada brokered by Clinton in 1994.
What is NAFTA
100
Unemployment that is predictable due to the time of year is called this.
What is seasonal
200
This term refers to how much money is owed.
What is debt
200
What is the only ‘check’ that the U. S. president and Congress have on the Federal Reserve?
What is the selection of Fed members (Board of Directors).
200
The Laffer Curve indicates that raising taxes too high will do this to government revenue.
What is decrease revenue.
200
The organization of countries that produce crude oil for the global market and is united in a form of collusion to regulate the supply and therefore the price of oil
What is OPEC
200

This is the type of unemployment caused by a change in the products demanded.

What is structural.

300
The Consumer Price Index is used to compute this.
What is inflation daily double
300


the degree of wealth and material comfort available to a person or community






What is "standard of living".

300
When the economy is going bad, as people try to cut their spending, they reduce the amount of money that they are investing. This causes the economy to decline faster. This is known as
What is an accelerator
300
The economic treaty organization of countries including Italy, France and Germany
What is the EU (European Union)
300
What do economists call ups and downs in real Gross Domestic Product?
What is business cycles
400
This term refers to the planning of whether the money supply should be expanded.
What is monetary policy (must say both words)
400
The recovery from the decline in real GDP that marks the first phase is called this.
What is expansion.
400

Keynesian Economics focuses on improving the economy by boosting this.

What is aggregate demand. ('demand' is worth the regular amount, but a response of 'aggregate demand' is worth double.)

400

During the 1970’s, Middle East oil exports to the Western World slowed as a reaction to the support that the West provided to this country.

What is Israel

400

The 2008 financial crisis started because of poor practices in this segment of the banking industry.

What is mortgage (housing loans).

500
This term refers to decision making concerning spending and revenue.
What is fiscal policy. (must use the word 'fiscal')
500
These are policies designed to stimulate output and lower unemployment by increasing production.
What is supply-side (or Reaganomics)
500
What is a tax on imports that is designed to help less efficient domestic industries called?
What is 'protective tariff'.
500
This is the international organization that exists in order to foster international trade and enforce trade agreements?
What is the WTO (World Trade Organization).
500

Which 20th century economist that we studied would be most likely to object to deficit spending?

Who is Hayek daily double