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Terms in this set (23)
In a typical business cycle, what stage immediately follows a peak?
A representative collection of goods and services used to calculate the Consumer Price Index is called?
The Market Basket
An economy that experiences decreasing real gdp and increasing prices is said to suffer from
When in an economy is in equlibrium at potential GDP; the actual unemployment rate is
equal to the natural rate
Which of the following would be counted in this years GDP?
The value of a television produced last year but sold this year.
The "cost" of credit is known as this
Which of the following is the best measure of a nation's standard of living?
Real GDP per capita
Seasonal unemployment technically falls under which of 3 main categories?
Products that would be used in calculating GDP include.
Cars manufactured in Tennessee at a factory owned by a Japanese automobile company.
During a recession, which of the following is likely to occur?
An increase in the unemployment rate.
Which of the following will most likely cause a stagflation.
A supply shock
GDP expressed in constant, or unchanging,(adjusted for inflation) prices is called.
The calculation of gdp would directly include
A dinner at Applebees
The only one of the following that will shift long run aggregate supply is
Another name for a 'flat tax' is which of the following?
Money that has actual value
Who owns the Federal Reserve System
How many federal reserve districts are there?
What do taxes collected under the Federal insurance contribution Act fund?
Social Security and Medicare
C+I+G+xn is most closely related to
The rate banks charge other banks for a loan
federal funds rate
How is the FDIC funded?
Member banks pay premiums to insure deposit accounts.
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