Transcript Macro

Welcome to...
A Game of X’s and O’s
Modified from a game
Developed by
Presentation
© 2000 - All rights Reserved
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Scoreboard
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X
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O
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Click Here if
X Wins
Click Here if
O Wins
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1
Define GDP
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Dollar value of all final g/s
made in a nation in a year.
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What is frictional unemployment?
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When you are between jobs
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3
What part of GDP increases
when a new factory is built?
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Investment (business)
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Who controls the money
supply in the US?
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The Federal Reserve
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Give an example of an action during a tight
money policy. During what phase of the
business cycle would this occur?
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Issuing less money, selling bonds to public, increase interest
rate, increase discount rate. This would occur during rapid
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expansion
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What does “aggregate” supply and
demand refer to?
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Total supply and demand for
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an economy
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What type of tax system takes a
constant % of income from all
people? Give an example.
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Proportional
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(social security& medicare = FICA)
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What 2 tools are used in the
fiscal policy?
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Government spending and
taxes
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If the federal government is attempting to encourage
spending by consumers, what type of fiscal policy
would be best? What phase of the business cycle
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Expansionary (decrease
taxes). It would occur during a
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contraction.