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Fiscal Policy Jeopardy Federal Budget Spending Tools Aggregate Demand Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy.

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Presentation on theme: "Fiscal Policy Jeopardy Federal Budget Spending Tools Aggregate Demand Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy."— Presentation transcript:

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2 Fiscal Policy Jeopardy Federal Budget Spending Tools Aggregate Demand Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy Taxes

3 $100 Question from Taxes A required payment to a local, state, or national government

4 $100 Answer from Taxes What is a tax

5 $200 Question from Taxes Income received by the government from tax collection

6 $200 Answer from Taxes What is revenue

7 $300 Question from Taxes The three types of tax structures

8 $300 Answer from Taxes What are proportional, progressive, and regressive

9 $400 Question from Taxes This funds Social Security and Medicare

10 $400 Answer from Taxes What is FICA (Federal Income Contributions Act)

11 $500 Question from Taxes The four characteristics of a good tax

12 $500 Answer from Taxes What are simplicity, efficiency, certainty, and equity

13 $100 Question from Federal Budget A written document indicating the amount of money the government expects to receive and how they will spend it

14 $100 Answer from Federal Budget What is a federal budget

15 $200 Question from Federal Budget During this step Congress makes changes to the budget and sends the amended budget to the President

16 $200 Answer from Federal Budget What is Step 3

17 $300 Question from Federal Budget Occurs then the government spends more than it takes in

18 $300 Answer from Federal Budget What is budget deficit

19 $400 Question from Federal Budget The total amount of money the federal government owes to bondholders

20 $400 Answer from Federal Budget What is the national debt

21 $500 Question from Federal Budget A type of loan with a promise to repay with interest

22 $500 Answer from Federal Budget What is a bond

23 $100 Question from Spending Programs that lawmakers are required by existing laws to spend money on

24 $100 Answer from Spending What is mandatory spending

25 $200 Question from Spending Spending that government can adjust; increase or decrease

26 $200 Answer from Spending What is discretionary spending

27 $300 Question from Spending Social welfare programs that people are entitled to if they meet certain requirements

28 $300 Answer from Spending What are entitlements

29 $400 Question from Spending Largest category of federal spending

30 $400 Answer from Spending What is Social Security

31 $500 Question from Spending Pays the salaries of people in the army, navy, air force, marines and civilian employees. Largest portion of discretionary spending.

32 $500 Answer from Spending What is defense spending

33 $100 Question from Tools Fiscal policy like higher spending and tax cuts that encourage growth

34 $100 Answer from Tools What is expansionary fiscal policy

35 $200 Question from Tools Fiscal policy like lower spending and higher taxes that reduce economic growth

36 $200 Answer from Tools What is contractionary fiscal policy

37 $300 Question from Tools The policy used to decrease unemployment

38 $300 Answer from Tools What is expansionary

39 $400 Question from Tools The policy used to decrease inflation

40 $400 Answer from Tools What is contractionary

41 $500 Question from Tools This policy reduces the budget deficit

42 $500 Answer from Tools What is contractionary

43 $100 Question from Aggregate Demand The sum of all supply and demand in an economy

44 $100 Answer from Aggregate Demand What is Aggregate

45 $200 Question from Aggregate Demand The four components of Aggregate Demand

46 $200 Answer from Aggregate Demand What are C + I + G + NX

47 $300 Question from Aggregate Demand Reasons why Aggregate Demand Curve is downward sloping

48 $300 Answer from Aggregate Demand What are wealth effect, interest rate effect, exchange rate effect

49 $400 Question from Aggregate Demand Government spending increases

50 $400 Answer from Aggregate Demand What is shifts to the right

51 $500 Question from Aggregate Demand Government implements contrationary fiscal policies

52 $500 Answer from Aggregate Demand What is shifts to the left

53 Final Jeopardy ScenarioExpansion/ Contraction Effect on Federal Budget Objective for AD Action on Taxes Action on Gov’t spending Effect on the National Debt The government decreases defense spending and takes more money from individual incomes.

54 Final Jeopardy Answer ScenarioExpansion/ Contraction Effect on Federal Budget Objective for AD Action on Taxes Action on Gov’t spending Effect on the National Debt The government decreases defense spending and takes more money from individual incomes. ContractionMove toward surplus

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