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Economic indicators Monetary Policy Fiscal Policy Misc. 10 Point Macro- economics Economic indicators Monetary Policy Fiscal Policy Misc. 10 Point 10 Point 10 Point 10 Point 10 Point 20 Points 20 Points 20 Points 20 Points 20 Points 30 Points 30 Points 30 Points 30 Points 30 Points 40 Points 40 Points 40 Points 40 Points 40 Points 50 Points 50 Points 50 Points 50 Points 50 Points

This is a schedule or curve that shows the total quantity of goods and services demanded (purchased) at different price levels

These are the four actors in the macroeconomy

This is a schedule or curve showing the total quantity of goods and services supplied (produced) at different price levels

These are the macroeconomic goals of our economy

This results when a government spends more money than it earns in revenue

This is the definition of inflation and the main method by which inflation is measured (name both)

These are the four kinds of unemployment

Economic growth is measured by this economic indicator (name it and give its formula)

Two consecutive quarters of a decline in GDP

This economic indicator increases when GDP declines

This entity controls monetary policy

This component of the Federal Reserve sets monetary policy and makes decisions about the use of open market operations

This monetary policy tool affects how much money a bank can lend from each deposit it receives

This is the monetary policy tool of the Fed that influences the money supply through buying or selling bonds

The Federal Reserve would [raise or lower] the discount rate in order to stimulate the economy in an expansionary move

This entity controls fiscal policy

Congress might use these two fiscal policy tools during a recession (be specific)

These are the tools of fiscal policy

This is the result of deficit spending

In order to pay down public debt, this would be needed

The height of a business cycle where GDP is strongest and employment is highest

This term generally describes the phase in which an economy is getting smaller

The government and the Fed worry about this when the economy is expanding

The economic indicator used to gage the broad health of an economy and to determine where in the business cycle we are

Economic decline accompanied by rising prices

Final Jeopardy Make your wager

He is currently Chairman of the Federal Reserve

What is aggregate demand?

What are consumers (households), businesses, government and foreign actors?

What is aggregate supply?

What are Economic growth Full employment Price stability?

What is a budget deficit?

What is a rise in the general level of prices in an economy and the Consumer Price Index (CPI)?

What are cyclical, structural, frictional and seasonal?

What is the total value of all final goods and services produced within a country’s borders during a year and what is GDP=C+I+G+(X-M)?

What is a recession?

What is the unemployment rate?

What is the Federal Reserve?

What is the reserve requirement?

What is the Federal Open Market Committee?

What are open market operations?

What is lower?

What is Congress?

What is increase government spending (G) and decrease taxes?

What are taxing and spending powers?

What is debt?

What is a budget surplus?

What is a peak?

What is contraction?

What is inflation?

What is GDP?

What is stagflation?

Who is Ben Bernanke?