Economics Final Review 2022 Pt. 2

Economics Final Review 2022 Pt. 2

By Morris Williams

Poll

How do I feel about the upcoming final exams?

• ready

• just a few things to work on, will be ready by the end of the week

• not sure!

• I'm good on the stuff we have covered in the review pt.

Multiple Choice

fiscal policy covers?

• actions of the Federal Reserves

• taxing and spending by the government

• actions of big businesses

• how individuals and businesses manage our financial situation

Multiple Choice

GDP expenditure model :

• G+D+P+(E-I)

• C+I+G(X-I)

• (X-I) + GDP

Multiple Choice

Transfer payments is the _______ source of the federal government expenditure.

• largest

• smallest

• in the middle

Multiple Choice

Unemployment benefits and food stamp are examples of?

• automatic stabilizer

• monetary policy

• expansionary actions of the government

• contractionary actions of the government

Multiple Select

Which are the goals of macroeconomics:

• low unemployment

• economic growth

• low inflation

Multiple Choice

     peak, contraction, trough, recovery represents

• business cycle

• fiscal policy

• monetary policy

Multiple Select

Types of unemployment are:

(select all that apply)

• Cyclical

• frictional

• seasonal

• structural

Multiple Select

The 3 main functions of money are:

• medium of exchange

              

• store of value

• exchange rate

• unit of account  

Multiple Select

cyclical unemployment is associated with the ups and downs of the economy, while ___________ and _________ are considered natural...

• frictional

•       Structural

• terminal

Multiple Choice

monetary policy is controlled/managed by?

• federal reserve

• congress and president

• large businesses

• small individual households and small businessess