End of Quarter Economics Test | Baamboozle - Baamboozle

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10

Define a recession.

A period of two or more quarters where GDP is declining (You must mention GDP).

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10

What is point 1 showing?

Peak

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monster

Reset all scores!

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seesaw

Swap points!

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shark

Other team loses 15 points!

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baam

Lose 20 points!

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10

At which number on the business cycle will you likely see unemployment dropping?

4

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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

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

Tight money policy

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15

Loose or Tight Money Supply: Which do you want if you are facing rising unemployment and dropping GDP?

Loose money policy.

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5

What is occurring in this picture?

Aggregate demand is increasing.

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10

What is point 3 showing?

Trough

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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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lifesaver

Give 5 points!

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fairy

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5

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25

rocket

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baam

Lose 25 points!

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5

What is likely to occur with aggregate demand if consumers are confident the future looks bright?

Aggregate demand will likely increase.

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banana

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magnet

Take 25 points!

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rocket

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baam

Lose 10 points!

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10

What typically happens with inflation during a recession?

It drops.

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5

What happens to GDP when aggregate demand increases

GDP increases.

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monster

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star

Double points!

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gift

Win 25 points!

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baam

Lose 15 points!

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