Jeopardy game for modules 30 and 31
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Jeopardy game for modules 30 and 31

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Jeopardy game for modules 30 and 31 Jeopardy game for modules 30 and 31 Presentation Transcript

  • Modules 30 and 31 Click to begin.
  • Click here for Final Jeo
  • Long-Run Monetary Monetary MonetaryThe Budget Implications Policy of and the Policy Policy Balance Fiscal Policy Interest Rate and AD in Practice 10 Point 10 Point 10 Point 10 Point 10 Point 20 Points 20 Points 20 Points 20 Points 20 Points 30 Points 30 Points 30 Points 30 Points 30 Points 40 Points 40 Points 40 Points 40 Points 40 Points 50 Points 50 Points 50 Points 50 Points 50 Points
  • A negative budget balance.
  • What is a deficit?
  • The difference between thegovernment’s tax revenues, and its spending on goods and services plus government transfers in a given year.
  • What is a budget balance?
  • The year the USfederal governmentran a record budget surplus.
  • What was 2000?
  • When revenuesequal spending in a fiscal year.
  • What is a balanced budget?
  • An estimate of what thebudget balance would be if there were neither a recessionary nor an inflationary gap.
  • What is a cyclically adjusted budget balance?
  • A measure used toassess the ability of governments to repay their debt.
  • What is the debt- GDP ratio?
  • When a governmentstops paying what it owes.
  • What is default on the debt?
  • Government debtheld by individuals and institutions outside the government.
  • What is the public debt?
  • When government“competes” with firms to borrow funds.
  • What is “crowding out”?
  • Spending promises made by government that areeffectively a debt, despite the fact that they are not included in the debt statistics.
  • What are implicit liabilities?
  • Every 6 weeks they meet to decide on the interest rate to prevail in the economy.
  • What are the Federal Open Market Committee?
  • What a reduction in the money supplywill do to the interest rate.
  • What is increase the interest rate?
  • Operations toincrease or reducethe money supply.
  • What are open-market operations?
  • The interest rate that is targeted through monetary policy.
  • What is the federal funds rate?
  • The three tools ofmonetary policy.
  • What are the required reserve ratio, thediscount window and theopen market operations?
  • This results after the Fed increases the money supply, causing the interest rate to fall, and investment to increase.
  • What is a rise in real GDP?
  • This monetarypolicy shifts AD to the right.
  • What is expansionarymonetary policy?
  • This monetarypolicy shifts AD to the left.
  • What is contractionarymonetary policy?
  • What the aggregateprice level does after the Fed enacts expansionary monetary policy.
  • What is increase?
  • AD will move in this direction when the Fed reduces the money supply.
  • What is to the left?
  • The percentage difference betweenactual real GDP and potential output.
  • What is the output gap?
  • Policy makers fightrecessions and try to ensure this.
  • What is price stability?
  • A rule for setting thefederal funds rate thattakes into account the inflation rate and the output gap.
  • What is the Taylor Rule?
  • When the central banksets an explicit value for the inflation rate and enacts monetary policyin order to hit this value.
  • What is inflation targeting?
  • The two main advantages ofinflation targeting.
  • What aretransparency and accountability?
  • Make your wager
  • The Taylor Rule equation.
  • What is the federal funds rate should equal 1 + (1.5*inflation rate) + (0.5*output gap)?