Transcript POWERPOINT JEOPARDY

Fiscal Policy
Monetary
Policy
Potpourri
Federal Reserve
& More
Monetary Policy
10
10
10
10
10
20
20
20
20
20
30
30
30
30
30
40
40
40
40
40
50
50
50
50
50
Taxes & Gov’t
Spending
Question 1 - 10
• This type of tax system is used in the U.S. for
personal income taxes. It is a tax for which
the percentage of income paid in taxes
increases as income increases.
Answer 1 – 10
• What is a progressive tax?
Question 1 - 20
• This budget issue occurs when tax revenues
are less than government spending.
Answer 1 – 20
• What is a budget deficit?
Question 1 - 30
• This budget issue occurs when tax revenues
are more than government spending.
Answer 1 – 30
• What is a budget surplus?
• Bonus 10: What do we call it when tax
revenues equal government spending?
Question 1 - 40
• This is a tax system for which the percentage
of income paid in taxes remains the same for
all income levels.
Answer 1 – 40
• What is a proportional tax?
Question 1 - 50
• This tax system is a tax for which the
percentage of income paid in taxes decreases
as income increases.
Answer 1 – 50
• What is a regressive tax?
Question 2 - 10
• Cutting taxes is an example of expansionary
fiscal policy, true or false.
Answer 2 – 10
• What is true?
Question 2 - 20
• If the federal government were to cut taxes,
this would be an example of _____ fiscal
policy.
Answer 2 – 20
• What is expansionary fiscal policy?
Question 2 - 30
• For expansionary fiscal policy, the federal
government would decrease spending, true or
false.
Answer 2 – 30
• What is false?
Question 2 - 40
• In contractionary fiscal policy, government
would decrease spending, true or false.
Answer 2 – 40
• What is true?
Question 2 - 50
• Name the two tools of fiscal policy.
Answer 2 – 50
• What are taxes and government spending?
Question 3 - 10
• The actions the Federal Reserve takes to
influence the level of real GDP and the rate of
inflation in the economy.
Answer 3 – 10
• What is monetary policy?
Question 3 - 20
• The Federal Reserve does _____ _____ so that
banks can cash checks to one another.
Answer 3 – 20
• What is check clearing?
Question 3 - 30
• This rate is the interest rate banks charge each
other for loans.
Answer 3 – 30
• What is the federal funds rate?
Question 3 - 40
• The Federal Reserve regulates the money
supply, true or false.
Answer 3 – 40
• What is true?
Question 3 - 50
• This 10% of all assets is the amount required
by banks of the the Federal Reserve.
Answer 3 – 50
• What is the required reserve?
Question 4 - 10
• This is the price paid for the use of borrowed
money.
Answer 4 – 10
• What is simple interest?
Question 4 - 20
• This is the term used for a stock market that is
doing poorly.
Answer 4 – 20
• What is a bear market?
• Bonus 10: What if the market is doing well?
Question 4 - 30
• One of the advantages of corporations, LLCs
and LLPs is this.
Answer 4 – 30
• What is limited liability?
Question 4 - 40
• This is something that is paid for by someone
other than the producer.
Answer 4 – 40
• What is an externality?
Question 4 - 50
• This index is used to calculate inflation.
Answer 4 – 50
• What is the Consumer Price Index?
Question 5 - 10
• The Board of Governors of the Federal
Reserve is made up of the 12 Federal Reserve
Bank presidents and the Chairman of the
Federal Reserve, true or false.
Answer 5 – 10
• What is true?
Question 5 - 20
• The number of districts in the Federal Reserve
System.
Answer 5 – 20
• What is 12?
Question 5 - 30
• The Federal Reserve serves the government by
selling securities, acting as the bank for the
government and issuing currency, true or
false.
Answer 5 – 30
• What is true?
Question 5 - 40
• This rate is the rate the Federal Reserve
charges for loans to commercial banks.
Answer 5 – 40
• What is the discount rate?
Question 5 - 50
• The buying and selling of government
securities to alter the money supply.
Answer 5 – 50
• What are open market operations?