- What are the four phases of the business cycle?
- Which phase of the business cycle would be the best time to purchase a large ticket item?
- How do you calculate the labor force participation rate?
- Who is accounted for in our countryâ€s labor force?
- How is our countryâ€s unemployment rate calculated?
- In one to two sentences, please define the term, â€œfull employment?â€
- In one to two sentences, what is a discouraged worker?
- What are the four types of unemployment?
- Which type of unemployment is the direct cause of our country (economy) contracting?
- In one to two sentences, please define, inflation?
- In two or more sentences, describe the goals and objectives of the Federal Reserve?
- Does the Federal Reserve or the federal government set interest rates for our country?
- What are the three (3) monetary policy tools used by the Federal Reserve?
- What are the two (2) fiscal policy tools used by the federal government?
- In one to two sentences, define the term, â€œQuantitative Easing?â€
- Does the Federal Reserve or the federal government print our countryâ€s paper money?
- In one to two sentences, describe expansionary monetary policy?
- In one to two sentences, describe expansionary fiscal policy?
- Explain how the Federal Reserve would be able to contract our countryâ€s money supply using all three monetary policy tools?
- Explain how the Federal Reserve would be able to expand our countryâ€s money supply using all three monetary policy tools?
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