civics jeopardy unit 7 macro econ and random review

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Civics and Civics and Economics Economics JEOPARDY JEOPARDY Unit 7 Unit 7 Macro econ Macro econ

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macro terms overview and some random review

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Page 1: Civics jeopardy unit 7 macro econ and random review

Civics and Civics and EconomicsEconomics

JEOPARDYJEOPARDY

Unit 7 Unit 7 Macro econMacro econ

Page 2: Civics jeopardy unit 7 macro econ and random review

Round 1100 200 300 400 500

100 200 300 400 500

100 200 300 400 500

100 200 300 400 500

100 200 300 400 500

100 200 300 400 500

Fiscal and Fiscal and monetary monetary policypolicyEconomic Economic systemssystemsEveryone’s Everyone’s favorite - taxesfavorite - taxes

Global Global economicseconomics

State and State and locallocal

Potpourri Potpourri FJFJ

Page 3: Civics jeopardy unit 7 macro econ and random review

What is the Federal What is the Federal Reserve?Reserve?

Regulates the nation’s Regulates the nation’s money supplymoney supply

Page 4: Civics jeopardy unit 7 macro econ and random review

What is fiscal What is fiscal policy?policy?

Consists of decisions and Consists of decisions and policies concerning policies concerning

taxation and spendingtaxation and spending

Page 5: Civics jeopardy unit 7 macro econ and random review

What are the Fed’s What are the Fed’s tools for controlling tools for controlling the money supply?the money supply?Reserve requirement, Reserve requirement,

discount rate, buying/selling discount rate, buying/selling of securities by the FOMCof securities by the FOMC

Page 6: Civics jeopardy unit 7 macro econ and random review

Daily Daily DoubleDouble

Page 7: Civics jeopardy unit 7 macro econ and random review

What is inflation?What is inflation?

A rise in this is what A rise in this is what usually ends a period of usually ends a period of

expansionexpansion

Page 8: Civics jeopardy unit 7 macro econ and random review

Raise the prime or discount Raise the prime or discount raterate

What can the Fed do to slow down What can the Fed do to slow down an economy that is expanding too an economy that is expanding too

rapidly?rapidly?

Page 9: Civics jeopardy unit 7 macro econ and random review

In this system, prices are In this system, prices are determined solely by supply determined solely by supply

and demand forces.and demand forces.

What is a market What is a market economy?economy?

Page 10: Civics jeopardy unit 7 macro econ and random review

This type of economic This type of economic system has government system has government influence primarily in the influence primarily in the areas of money supply areas of money supply

and matters of consumer and matters of consumer protection protection

What is a mixed economy?What is a mixed economy?

Page 11: Civics jeopardy unit 7 macro econ and random review

His book, His book, The Wealth of The Wealth of Nations, Nations, said that business said that business will regulate itself through will regulate itself through

natural market forces natural market forces

Who is Adam Smith?Who is Adam Smith?

Page 12: Civics jeopardy unit 7 macro econ and random review

Countries with this type Countries with this type of economic system of economic system typically have high typically have high

GDPs and high standard GDPs and high standard of livingof living

What are market or What are market or mixed economies?mixed economies?

Page 13: Civics jeopardy unit 7 macro econ and random review

The means of The means of production are owned production are owned and operated by the and operated by the

government.government.

What is a command What is a command economy?economy?

Page 14: Civics jeopardy unit 7 macro econ and random review

The federal government’s The federal government’s greatest source of greatest source of

revenuerevenue

What are individual What are individual income taxes?income taxes?

Page 15: Civics jeopardy unit 7 macro econ and random review

Usually designated for Usually designated for capital improvements capital improvements

such as school and such as school and government buildings, government buildings,

water treatment facilities, water treatment facilities, etc.etc.

What are property taxes?What are property taxes?

Page 16: Civics jeopardy unit 7 macro econ and random review

Another name for use Another name for use taxes.taxes.

What are excise taxes? What are excise taxes?

Page 17: Civics jeopardy unit 7 macro econ and random review

This type of tax system This type of tax system taxes income at taxes income at

increasingly higher rates increasingly higher rates as the level of income as the level of income

risesrises

What is a progressive tax?What is a progressive tax?

Page 18: Civics jeopardy unit 7 macro econ and random review

The greatest amount of The greatest amount of revenue for both state and revenue for both state and

local governments.local governments.

What are What are intergovernmental intergovernmental

revenues?revenues?

Page 19: Civics jeopardy unit 7 macro econ and random review

Provides law enforcement Provides law enforcement at the county level.at the county level.

What is the sheriff’s What is the sheriff’s department?department?

Page 20: Civics jeopardy unit 7 macro econ and random review

The executive power for a The executive power for a city rests with this official.city rests with this official.

What is the mayor?What is the mayor?

Page 21: Civics jeopardy unit 7 macro econ and random review

The 2The 2ndnd largest category of largest category of revenue for the state revenue for the state

budgetbudget

What is sales tax?What is sales tax?

Page 22: Civics jeopardy unit 7 macro econ and random review

Legislation passed by city Legislation passed by city council or county council or county

commission.commission.

What is an ordnance?What is an ordnance?

Page 23: Civics jeopardy unit 7 macro econ and random review

What must be true of the What must be true of the North Carolina budget that North Carolina budget that

is not necessary for the is not necessary for the federal budget. federal budget.

What is a balanced budget?What is a balanced budget?

Page 24: Civics jeopardy unit 7 macro econ and random review

Daily Daily DoubleDouble

Page 25: Civics jeopardy unit 7 macro econ and random review

Importing more Importing more goods than are goods than are

exportedexported

What is an unfavorable What is an unfavorable balance of trade?balance of trade?

Page 26: Civics jeopardy unit 7 macro econ and random review

This country’s This country’s developing economy is developing economy is now the second largest now the second largest

in the world.in the world.

What is the People’s What is the People’s Republic of China [PRC]?Republic of China [PRC]?

Page 27: Civics jeopardy unit 7 macro econ and random review

Has all but eliminated Has all but eliminated trade barriers between trade barriers between

Canada, the United States Canada, the United States and Mexico. and Mexico.

What is the North America What is the North America Free Trade Agreement Free Trade Agreement

[NAFTA]?[NAFTA]?

Page 28: Civics jeopardy unit 7 macro econ and random review

The tax placed on The tax placed on imported goods before imported goods before entering the market.entering the market.

What are tariffs?What are tariffs?

Page 29: Civics jeopardy unit 7 macro econ and random review

Two institutions that Two institutions that provide loans and financial provide loans and financial assistance to developing assistance to developing

countries.countries.

What are the World What are the World Trade Organization Trade Organization

[WTO] and International [WTO] and International Monetary Fund [IMF]?Monetary Fund [IMF]?

Page 30: Civics jeopardy unit 7 macro econ and random review

Most of the federal Most of the federal government’s budget is government’s budget is already committed to already committed to

these.these.

What are entitlement What are entitlement programs?programs?

Page 31: Civics jeopardy unit 7 macro econ and random review

Nations that are seeking Nations that are seeking weapons of mass weapons of mass destruction and/or destruction and/or

harboring terrorists and harboring terrorists and are, therefore, a threat to are, therefore, a threat to

international security.international security.

What are “rogue nations”?What are “rogue nations”?

Page 32: Civics jeopardy unit 7 macro econ and random review

What is an What is an oligarchy?oligarchy?

Dictatorial rule by a Dictatorial rule by a few peoplefew people

Page 33: Civics jeopardy unit 7 macro econ and random review

What is a high rate of What is a high rate of population growth?population growth?

Besides a general lack of Besides a general lack of natural resources, a key natural resources, a key

obstacle to economic obstacle to economic growth in many growth in many

developing nationsdeveloping nations

Page 34: Civics jeopardy unit 7 macro econ and random review

What is maintain world What is maintain world peace?peace?

The main role of the The main role of the United Nations.United Nations.

Page 35: Civics jeopardy unit 7 macro econ and random review
Page 36: Civics jeopardy unit 7 macro econ and random review

FINAL FINAL JEOPARDYJEOPARDY

Page 37: Civics jeopardy unit 7 macro econ and random review

CATEGORY

Potpourri

Page 38: Civics jeopardy unit 7 macro econ and random review

A series of business A series of business expansions and expansions and

contractionscontractions

Page 39: Civics jeopardy unit 7 macro econ and random review

What is the business What is the business cycle?cycle?