Personal Finance Quiz 2

Inflation that occurs when the demand for goods and services is greater than the supply.

• Demand-Pull Inflation

• Goods Inflation

• Inflation based Delta

The study of people’s vital statistics, such as their age, gender, race and ethnicity, and location.

• Geography

• Demagogy

• Demography

An increase in a nation’s output of goods and services.

• Economic Crash

• Economic Accelerants

• Economic Growth

The combination of policies, laws, and choices made by a nation’s government to establish the systems that determine what goods and services are produced and how they are allocated.

• Economic Crash

• Economic System

• Economic Growth

The study of how a society uses scarce resources to produce and distribute goods and services.

• Economics

• Economies of Scale

• Business

People who combine the inputs of natural resources, labor, and capital to produce goods or services with the intention of making a profit or accomplishing a not-for-profit goal.

• Community Leaders

• Political Economists

• Entrepreneurs

The point at which quantity demanded equals quantity supplied.

• Equilibrium

• Supply and Demand

• Quantitatus Equalus

The use of monetary policy by the Fed to increase, or loosen, the growth of the money supply.

• Contractionary Policy

• Expansionary Policy

• Differentiation Policy

The resources used to create goods and services.

• Production

• Factors of Production

• Goods Creation

The condition that occurs when the federal government spends more for programs than it collects in taxes.

• Federal Budget Deficit

• Government Expenditures