What is the economic term for the group of people who are more than 16 years old and employed or looking for work?

A worker who loses a job at a petroleum refinery because consumers and business firms switch from oil to the burning of coal is an example of which of the following kinds of unemployment?

A decline in total spending in the economy results in what type of unemployment?

Which of the following contributes to COST PUSH INFLATION?

According to the following criteria, which would the government consider to be employed?

Which of the following describes a product that is counted as part of Gross Domestic Product?

Choose the element/component of GDP that would be most impacted: Worried about an increasing budget deficit, the government decides to buy fewer military planes.

Choose the element/component of GDP that would be most impacted: Many more Americans decide to buy foreign cars rather than American cars due to better fuel consumption.

Choose the element/component of GDP that would be most impacted: Households are worried about future employment rates and begin to spend less money.

The kind of unemployment that economists consider to be "normal" and is based on quitting or being fired is called what?

If unemployment increases, what changes would economists expect in GDP and inflation

What happens to the buying power of money during inflation

Assuming a period of recession, which of the following actions would most likely stimulate expansion of the economy

What is the opposite of a tax? In other words, you receive money instead of having it taken by the government.

What type of tax?

A property tax rate that is the same for everyone. Usually for things like property.

Income tax is a __________ tax.

What is the tax incidence for a toll road?

Which type of tax system: a diamond necklace or a yacht.

The largest source of revenue the federal government receives is from

The government has two categories of spending: mandatory and discretionary. Which type of spending cannot be adjusted because it is law (social security, medicare)?

The number one discretionary spending program of the federal government is

Taxes don't allow for efficiency (best use of money and income). What is this called-- this waste?

WHAT is being taxed. Like income when we discuss Income Tax. Income is taxed.

The #1 tax revenue source for the US Federal Government is

What government entity is in charge of Monetary Policy?

Fiscal Policy involves

What governmental body is in charge of fiscal policy?

Which policy is contractionary Fiscal Policy?

Lowering taxes and increasing spending are what type of fiscal policy?

What is the purpose of Fiscal and Monetary Policy?

Which chain of events should occur with contractionary fiscal policy?

What District are we in for the FED?

Using the image, which option is expansionary fiscal policy?

What is the phenomenon in this picture called? Where $$1000 becomes$$ 2600.

When the government buys bonds on the open market (FOMC): expansionary or contractionary?

When the FED uses contractionary policy

The reserve requirement is initially 20%. If the FED uses this monetary policy tool and changes it to 10%. Will this increase or decrease the money supply?

The key interest rate that the FED targets- the interest rate that banks charge each other for loans (aka: overnight rate) is the

Which type of tax cut would encourage businesses to invest, thus creating jobs and innovation? (notebook)

Which MONETARY POLICY ACTION would be best (select the number from the visual)? The year is 1974. The U.S. economy is in the middle of a recession. Real gross domestic product (GDP) declined during three of the past four quarters. In just one year, household consumption dropped by more than $40 billion. There are 2 million more people without jobs, and there is no relief in sight.

The visual: Expansionary or Contractionary?