What is inflation?

• rise in all goods purchased

• decrease in prices

• when prices stagnate

• rise in general prices

When inflation is high the _______________of the dollar decreases

• cost value
• purchasing power
• importance
• validity

Which of the following studies economics as a whole?

• Microeconomics

• Macroeconomics

• Both Microeconomics & Macroeconomics

This reflects those who are actively seeking employment.

• full employment

• unemployment rate

• labor force

• underemployed

What is GDP?

• Gross Domestic Product

• Get Duties Prior

• Gross Department Power

• Gross Duties Peer

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

• expansionary policy
• monetary policy
• contractionary policy
• budget deficit

Taxing & spending to slow the economy is referred to as 

• budget surplus 
• monetary policy
• contractionary policy
• budget deficit

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

• Physical Policy
• Fiscal Policy
• Money
• Monetary Policy

"The Fed" refers to the....

• Federal Bureau of Investigation
• Federal Government
• Federal Reserve System
• Federal Income Tax

Who is in charge of Monetary Policy

• The Government

• The Federal Reserve System

• The states

• The Department of the Treasury