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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.
Loose or Tight Money Supply: Which do you want if you are facing rising inflation?
Tight money supply
Does decreasing the Federal Funds Rate fit with loose or tight money policy?
Loose money policy
Does increasing the discount rate fit with loose or tight money policy?
Tight money policy
Is lowering the reserve requirements fitting with loose or tight money policy?
Loose money policy
What are reserve requirements?
The amount of money banks must keep at the Federal Reserve.
What are the main goals of the Federal Reserve?
Have a strong economy with low inflation. Keep the money supply growing steadily.
What is occurring if we have a loose money supply?
The Federal Reserve is working to get more money into the economy.
What is occurring if we have a tight money supply?
The Federal Reserve is taking measures to decrease the amount of money in the economy.
What happens to GDP when aggregate demand increases
GDP increases.
What is occurring in this picture?
Aggregate Supply is increasing.
What is occurring in this picture?
Aggregate Demand is decreasing.
What is occurring in this picture?
Aggregate Supply is decreasing.
What is occurring in this picture?
Aggregate demand is increasing.
What is likely to occur with aggregate demand if consumers are confident the future looks bright?
Aggregate demand will likely increase.
Aggregate supply increases when what happens to the price level?
It decreases.
Aggregate demand increases when what happens with the price level?
The price level decreases.
Define aggregate supply.
The total amount of goods and services produced in a country in a specific time.
Define aggregate demand.
Total demand for all goods and services in an economy at a specific time.
What typically happens with inflation during a recession?
It drops.
What typically happens with unemployment during a recession?
It increases.
What typically occurs with GDP during a recession?
It decreases.
At which number on the business cycle will you likely see unemployment dropping?
4
In the business cycle, what do we call contraction that lasts for 6 months or more?
A Recession
The lowest point in the business cycle is called what?
Trough
What do we call the natural rise and fall of economic growth over time?
Business Cycle
Define a recession.
A period of two or more quarters where GDP is declining (You must mention GDP).
Which number shows the economy is shrinking?
2
Which number shows the economy is growing?
4
What is point 3 showing?
Trough
What is point 4 showing?
Expansion or Recovery
What is point 2 showing?
Contraction (it is also possible it is a Recession)
What is point 1 showing?
Peak


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