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10
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What is occurring if we have a loose money supply?
The Federal Reserve is working to get more money into the economy.
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15
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Aggregate supply increases when what happens to the price level?
It decreases.
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15
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Loose or Tight Money Supply: Which do you want if you are facing rising inflation?
Tight money supply
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20
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What are the main goals of the Federal Reserve?
Have a strong economy with low inflation. Keep the money supply growing steadily.
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15
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Loose or Tight Money Supply: Which do you want if you are facing rising unemployment and dropping GDP?
Loose money policy.
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10
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What do we call the natural rise and fall of economic growth over time?
Business Cycle
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5
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What happens to GDP when aggregate demand increases
GDP increases.
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lifesaver
Give 10 points!
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gold
Win 50 points!
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rocket
Go to first place!
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baam
Lose 15 points!
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15
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In the business cycle, what do we call contraction that lasts for 6 months or more?
A Recession
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15
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Define aggregate supply.
The total amount of goods and services produced in a country in a specific time.
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10
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What is point 4 showing?
Expansion or Recovery
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10
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What is point 1 showing?
Peak
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10
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What typically occurs with GDP during a recession?
It decreases.
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10
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Define a recession.
A period of two or more quarters where GDP is declining (You must mention GDP).
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monster
Reset all scores!
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seesaw
Swap points!
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rocket
Go to first place!
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lifesaver
Give 15 points!
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thief
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5
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20
25
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seesaw
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fairy
Take points!
5
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25
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banana
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