Unit 3 Macroeconomics

Front

What is inflation?

Back

rise in general prices

Front

When inflation is high the _______________ of the dollar decreases

Back

purchasing power

Front

What is GDP?

Back

Gross Domestic Product

Front

Taxing & spending to help the economy grow is referred to as

Back

expansionary policy

Front

Taxing & spending to slow the economy is referred to as

Back

contractionary policy

Front

The federal government's overall approach to spending and taxes is called

Back

Fiscal Policy

Front

"The Fed" refers to the....

Back

Federal Reserve System

Front

Who is in charge of Monetary Policy?

Back

The Federal Reserve System

Front

Inflation is measured by...

Back

Consumer Price Index (CPI).

Front

This is a tax on imports that is used to increase price of foreign products and raise government revenue.

Back

tariff