Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200...

27
Jeopardy Jeopardy $100 FED GOV TAX I Recall I Money $200 $300 $400 $500 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 Final Jeopardy Final Jeopardy

Transcript of Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200...

Page 1: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

JeopardyJeopardy

$100

FED GOV TAX I Recall I Money

$200

$300

$400

$500 $500

$400

$300

$200

$100

$500

$400

$300

$200

$100

$500

$400

$300

$200

$100

$500

$400

$300

$200

$100

Final JeopardyFinal Jeopardy

Page 2: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

1 - $1001 - $100

This group is in charge of Monetary Policy.This group is in charge of Monetary Policy.

The Federal Reserve Bank AKA “The Fed”The Federal Reserve Bank AKA “The Fed”

Page 3: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

1 - $2001 - $200

What is the main goal of the Federal What is the main goal of the Federal Reserve in its Monetary Policy?Reserve in its Monetary Policy?

Prevent/Limit inflation or recessionPrevent/Limit inflation or recession

Page 4: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

1 - $3001 - $300

The Federal Reserve increases or The Federal Reserve increases or decreases the money supply when they decreases the money supply when they buy/sell government bonds. This is called buy/sell government bonds. This is called _____._____.

Open Market OperationsOpen Market Operations

Page 5: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

1 - $4001 - $400

To encourage or discourage borrowing, the To encourage or discourage borrowing, the FED adjusts the _____.FED adjusts the _____.

Discount RateDiscount Rate

Page 6: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

1 - $5001 - $500

If the Federal Reserve wants to reduce the If the Federal Reserve wants to reduce the nation’s money supply, they could _______ nation’s money supply, they could _______ the discount rate and reserve the discount rate and reserve requirementsrequirements

IncreaseIncrease

Page 7: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

2 - $1002 - $100

Fiscal Policy is concerned with _____ and Fiscal Policy is concerned with _____ and _____._____.

Government spending and taxationGovernment spending and taxation

Page 8: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

2 - $2002 - $200

If the federal government wanted to make If the federal government wanted to make a “loose money” policy during a recession, a “loose money” policy during a recession, they could _____ taxesthey could _____ taxes

decreasedecrease

Page 9: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

2 - $3002 - $300

If the federal government wanted to make If the federal government wanted to make a “loose money” policy during a recession a “loose money” policy during a recession they could _____ government spending.they could _____ government spending.

Increase Increase

Page 10: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

2 - $4002 - $400

If the federal government wanted to make If the federal government wanted to make a “tight money” policy during inflation, a “tight money” policy during inflation, they could _____ taxes.they could _____ taxes.

increaseincrease

Page 11: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

2 - $5002 - $500

The main goal of the federal government The main goal of the federal government in its fiscal policy is to ______in its fiscal policy is to ______

Prevent/limit inflation and recessionPrevent/limit inflation and recession

Page 12: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

3 - $1003 - $100

Rich people pay a higher percentage Rich people pay a higher percentage (hurts rich)(hurts rich)

ProgressiveProgressive

Page 13: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

3 - $2003 - $200

Everyone pays the same percentage of tax Everyone pays the same percentage of tax (flat tax) like Social Security Tax(flat tax) like Social Security Tax

ProportionalProportional

Page 14: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

3 - $3003 - $300

Sales Tax on food is considered to be the Sales Tax on food is considered to be the most ___________ form of tax (hurts the most ___________ form of tax (hurts the poor)poor)

RegressiveRegressive

Page 15: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

3 - $4003 - $400

If the unemployment rate is rising and the If the unemployment rate is rising and the GDP is falling, the federal government GDP is falling, the federal government would MOST LIKELY _______ taxes.would MOST LIKELY _______ taxes.

Decrease Decrease

Page 16: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

3 - $5003 - $500

If, in one year, the federal government If, in one year, the federal government takes in $50 billion dollars in taxes and takes in $50 billion dollars in taxes and spends $49 billion, the nation has a spends $49 billion, the nation has a ________________

Budget surplusBudget surplus

Page 17: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

4 - $1004 - $100

Alissa was laid off from her company Alissa was laid off from her company because of technological improvements because of technological improvements that made her job obsolete. Alissa is that made her job obsolete. Alissa is _________ unemployed._________ unemployed.

StructurallyStructurally

Page 18: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

4 - $2004 - $200

Macroeconomics focuses onMacroeconomics focuses on

An entire nationAn entire nation

Page 19: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

4 - $3004 - $300

This form of business is easiest to organizeThis form of business is easiest to organize

Sole proprietorshipSole proprietorship

Page 20: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

4 - $4004 - $400

Brad decided to give up his job as a chef Brad decided to give up his job as a chef and try to get a job as an actor. Until he and try to get a job as an actor. Until he finds a job as an actor, Brad is ______ finds a job as an actor, Brad is ______ unemployed.unemployed.

FrictionallyFrictionally

Page 21: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

4 - $5004 - $500

On the circular flow chart, where is the On the circular flow chart, where is the finished product bought and sold?finished product bought and sold?

Product MarketProduct Market

Page 22: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

5 - $1005 - $100

Using money to buy goods/servicesUsing money to buy goods/services

Medium of ExchangeMedium of Exchange

Page 23: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

5 - $2005 - $200

__________ is coin money and _________ is __________ is coin money and _________ is paper money.paper money.

SpecieSpecie FiatFiat

Page 24: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

5 - $3005 - $300

A Ferrari costs $100,000 and a Kia costs A Ferrari costs $100,000 and a Kia costs $30,000. The prices represent money as a $30,000. The prices represent money as a ______

Standard of valueStandard of value

Page 25: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

5 - $4005 - $400

If you sell your stock on Etrade you will If you sell your stock on Etrade you will have to pay a _________ tax.have to pay a _________ tax.

Capital GainsCapital Gains

Page 26: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

5 - $5005 - $500

______________ money is anything that has ______________ money is anything that has real value.real value.

CommodityCommodity

Page 27: Jeopardy $100 FEDGOVTAXI RecallI Money $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100.

Final JeopardyFinal Jeopardy

5 things help determine demand for a 5 things help determine demand for a product (determinants of demand). Name product (determinants of demand). Name them. - Divide your wager by 5 and them. - Divide your wager by 5 and each one is worth that value - each one is worth that value -

Price and available substitutes/complements (utility)Price and available substitutes/complements (utility) Number of consumersNumber of consumers Consumer ExpectationConsumer Expectation Consumer Tastes/PreferencesConsumer Tastes/Preferences Change in consumer incomeChange in consumer income