slide 1 copyright © 2004 glenna r. shaw & ftc publishing background courtesy of awesome...
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Slide 1
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome Backgrounds
Communication!
Macro Policy
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsGame Board
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Communication Game Board
InflationUn-
employmentEconomic Instability
The Fed Macro-Policy
100 100 100 100 100
200 200 200 200 200
300 300 300 300 300
400 400 400 400 400
500 500 500 500 500
Final Challenge
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Category 1 for 100
An increase in the general price level.Inflation
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Category 1 for 200
Intense form of inflation that can go as high as 100-300% per year.
Galloping Inflation
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Category 1 for 300
A decrease in general price leveldeflation
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Category 1 for 400
Inflation in the range of 500% a year and above
Hyperinflation
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Category 1 for 500
Inflation in the range of 1-3% per yearCreeping Inflation
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Category 2 for 100
Number of unemployed persons divided by the total number of persons in the
civilian labor force
Unemployment rate
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Category 2 for 200
Results from changes in the weather or changes in the demand for certain
products
Seasonal unemployment
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Category 2 for 300
Unemployment directly related to swings in the business cycle
Cyclical Unemployment
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Category 2 for 400
Unemployment caused by workers who are “between jobs”
Frictional Unemployment
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Category 2 for 500
Occurs when a fundamental change in the operations of the economy reduces the demand for workers and their skills
Structural Unemployment
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Category 3 for 100
Period of stagnant growth combined with inflationStagflation
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Category 3 for 200
The difference between the actual GDP and the potential GDP that could be produced if all resources were fully
employed.
GDP Gap
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Category 3 for 300
Sum of the monthly inflation and unemploymentMisery Index
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Category 3 for 400
Price of economic failures that waste the resources of the nation and its
people
Economic costs
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Category 3 for 500
Price of economic instability in human terms. Includes an increase in crime
during recessions.
Social Costs
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Category 4 for 100
Where is the closest Federal reserve?Kansas City
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Category 4 for 200
Who is the current head of the Fed?Ben Bernanke
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Category 4 for 300
Who owns the Fed?Member Banks
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Category 4 for 400
The Fed is responsible for all of the following EXCEPT:
Regulating holding companies, supervising foreign banks in the US,
Approving bank mergers,Regulating credit unions
Regulating Credit Unions
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Category 4 for 500
The Fed has to choose between these two tactics in monetary policy
Monetizing the debt and interest rates
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Category 5 for 100
The intersection of aggregate supply and aggregate demand
Macroeconomic Equilibrium
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Category 5 for 200
All of the following increase aggregate supply except:
Increase in labor productivity, increase in interest rates, development of new
tech, decrease in gov. regulation
Increase in interest rates
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Category 5 for 300
His macro policies were a driving force in economics in the 20th century.
Keynes
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Category 5 for 400
This type of person believes that increasing the money supply is a
temporary solution that does not affect unemployment.
Monetarist
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Category 5 for 500
Those who favor supply-side policy favor an expanded or a reduced role of
the government in the economy.
Reduced
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Final Challenge!
The policy that favored reducing taxes in hopes of increasing the amount of taxing returning to the government. Also include the president that put this policy in place.
Laffer Curve or Trickle down economics
Write Your
Final Challenge
Wager