End of Quarter Economics Test | Baamboozle - Baamboozle

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15

Define aggregate demand.

Total demand for all goods and services in an economy at a specific time.

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10

What is point 4 showing?

Expansion or Recovery

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10

What typically occurs with GDP during a recession?

It decreases.

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seesaw

Swap points!

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shark

Other team loses 20 points!

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fairy

Take points!

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25

thief

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5

What is occurring in this picture?

Aggregate Supply is decreasing.

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5

The lowest point in the business cycle is called what?

Trough

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20

What are the main goals of the Federal Reserve?

Have a strong economy with low inflation. Keep the money supply growing steadily.

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thief

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fairy

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shark

Other team loses 25 points!

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thief

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15

Loose or Tight Money Supply: Which do you want if you are facing rising inflation?

Tight money supply

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15

Does increasing the discount rate fit with loose or tight money policy?

Tight money policy

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10

What typically happens with unemployment during a recession?

It increases.

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10

What is occurring if we have a loose money supply?

The Federal Reserve is working to get more money into the economy.

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15

Aggregate demand increases when what happens with the price level?

The price level decreases.

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10

What is point 1 showing?

Peak

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5

What happens to GDP when aggregate demand increases

GDP increases.

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banana

Go to last place!

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rocket

Go to first place!

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shark

Other team loses 15 points!

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thief

Give points!

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25

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