2. Welcome to... A Game of X’s and O’s

3. Modified from a game Developed by Presentation © 2000 - All rights Reserved markedamon@hotmail.com

4. 789 456 123

5. 789 456 123 Scoreboard X O Click Here if X Wins Click Here if O Wins

6. 1 Define GDP

7. 1 Dollar value of all final g/s made in a nation in a year. Home

8. 2 What is frictional unemployment?

9. 2 When you are between jobs

10. 3 What part of GDP increases when a new factory is built?

11. 3 Investment (business)

12. 4 Who controls the money supply in the US?

13. 4 The Federal Reserve

14. 5 Give an example of an action during a tight money policy. During what phase of the business cycle would this occur?

15. 5 Issuing less money, selling bonds to public, increase interest rate, increase discount rate. This would occur during rapid expansion

16. 6 What does “aggregate” supply and demand refer to?

17. 6 Total supply and demand for an economy

18. 7 What type of tax system takes a constant % of income from all people? Give an example.

19. 7 Proportional (social security& medicare = FICA)

20. 8 What 2 tools are used in the fiscal policy?

21. 8 Government spending and taxes

22. 9 If the federal government is attempting to encourage spending by consumers, what type of fiscal policy would be best? What phase of the business cycle would this occur during?

23. 9 Expansionary (decrease taxes). It would occur during a contraction.