Where are we?
The point of the business cycle where unemployment is at its worst point.
What is TROUGH?
The agency that regulates what can be said on radio and shown on television.
What is the FCC?
When the government uses fiscal policy to build roads and bridges to create jobs.
What is Expansionary Fiscal Policy.
The cost of borrowing money.
What is an interest rate?
An economy that is based on the way people in a society have always done things.
What is a TRADITIONAL economy?
The point in the business cycle where inflation is likely at its highest point.
What is PEAK?
The agency that enforces laws to keep the environment safe and clean.
What is the EPA?
When the Federal Reserve increases interest rates to make borrowing money more expensive.
What is Contractionary Monetary Policy?
A measure of economic activity that measures the size and growth of the economy and can also be looked at on a per person (per capita) basis.
What is GDP?
An economic system where prices determine what is supplied and what is demanded.
What is a Market Economy
Another word for CONTRACTION.
What is RECESSION?
The agency that makes sure drugs are safe to use.
What is the FDA?
When a politician promises tax cuts so that "hard working Americans can keep more money in their pockets."
What is Expansionary Fiscal Policy?
This economic factor is captured by the CPI (Consumer Price Index).
What is INFLATION?
The type of economy that is a combination of a COMMAND economy and a MARKET economy.
What is a MIXED economy?
The point in the business cycle when growth, unemployment, and inflation are running on target.
What is EXPANSION?
The agency that helps protect consumers against fraud and other questionable business practices.
What is the FTC?
When the Federal Reserve cuts interest rates making it cheaper to borrow money to buy a home, car, etc.
What is Expansionary Monetary Policy?
The decision process when a person or business looks at the positive and negative points of a decision.
What is Cost Benefit Analysis?
Demand for the new Iphone 15 increases beyond expectations and this happens to the price.
What is INCREASE?
The point in the business cycle where the government should use fiscal spending to help improve economic growth and employment.
What is CONTRACTION or TROUGH?
That branch of the government that looks over agencies such as the EPA, FCC, and FDA.
What is the EXECUTIVE BRANCH/ PRESIDENT?
When the Federal Reserve increases bank RESERVE REQUIREMENTS meaning they have to keep more deposits (cash) at the bank.
What is Contractionary Monetary Policy?
What is Opportunity Cost?
Apple creates new technology to build Airpods faster. This helps increase supply (quantity) and does this to price.
What is DECREASE price?