Ideology
Jeremiah does runs a pen and paper store uptown. He does not like it when the government involve themselves in his business. Recently, the PPA (Pen and Paper Agency), banned the use of water-based gel inks, ending the sales for his best pens! What is his ideology?
Conservative
What type of system is the US economy
Mixed economy
Who appoints the board of governors of the FED?
POTUS
This piece of legislation was passed in 2009 and nicknamed after a president.
Obamacare (ACA)
This is used to measure cost of living.
CPI (Consumer Price Index)
A set of beliefs about the desired goals and outcomes of a process of governance
Political ideology
How long must there be a decline in GDP for it to be called a recession.
2 consecutive quarters
If credit is cheap and businesses are taking out a lot of loans to try to expand, what policy does the FED have?
Expansionary
School Vouchers
Supply-side economics is also called
Reaganomics
What ideology favors very little government regulation and intervention beyond protecting personal property and individual liberty.
Libertarianism
The USSR had what type of economy
Command and control
Tight/contractionary
federal program that provides health insurance to seniors and the disabled
Medicare
The government’s use of taxes and spending to attempt to lower unemployment, support economic growth, and stabilize the economy.
Fiscal Policy
more control of social behavior and fewer regulations on businesses is something that a ____ would favor
conservative
Gerald is recently got laid off from is job at Chuck-e-Cheese, he is now looking for a new job, but has been so far not very lucky. What is he considered?
Unemployed
List the three different ways the FED controls the money supply:
Buys and sells Treasury Bills
Sets reserve requirements for banks
Sets interest rates - federal funds rate - loans to District Banks
federal and state program that provides health care for the poor
Medicaid
Who is the Chair of the FED
Jerome Powell
Jimmy believes the government should regulate the economy and in less government involvement in our social lives, what is he?
liberal
What ideology would a Keynesian economist most likely have?
Liberal (government intervention in economy)
Oh no! Mr/Ms. Chairmen, inflation is at nearly 50%, what should we do?
Institute a contractionary policy by raising reserve requirements, selling T-bills to private investors, and raising interest rates.
Give one of the major impacts of Obamacare
Employers with more than 50 full-time employees must provide health insurance.
Requires individuals to obtain some kind of health insurance or pay a penalty
expanded Medicaid benefits
requires health insurers to cover young adults up to the age of 26 on the parent’s plans
prohibition against excluding individuals with pre-existing medical conditions.
This district shreds the money (give me the number)
District 4