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Your
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Crisis ofCredit.
GDP BusinessCycle
Unemployment
Inflation Indicators
What does “Leverage” mean?
A 100
To borrow money in order to make a larger business deal
A 100
What is a mortgage?
A 200
A loan on a house or a piece of land
A 200
Why did banks make loans to people with bad credit?
A 300
Because the value of houses traditionally increases over
time.
A 300
What are two things that occurred after the Fed reduces interest rates
following 9/11?
A 400
1. More loans occurred because the cost was so low.
2. Fewer people put money into banks because of low interest rates.
A 400
What occurred to the value of houses when people began to
default (not pay back their loans)?
A 500
The value of houses decreased and banks came
near bankruptcy.
A 500
For what does GDP stand?
B 100
Gross Domestic Product
B 100
What is the definition of GDP?
B 200
The dollar value of all goods and services produced in the United States in a given year.
B 200
Would a used car be included in GDP?
B 300
No, the item is used, not new
B 300
If GDP is increasing, what phase of the business cycle
are you most likely in?
B 400
Expansion
B 400
Would a Ford car made in Canada be included in this year’s
GDP?
B 500
No – made outside the US
B 500
What are the four phases of the Business Cycle?
C 100
Expansion, peak, contraction/recession, trough
C 100
Increased employment and increased consumer spending
is associated with which phase?
C 200
Expansion
C 200
Increasing unemployment and reduced consumer
spending is associated with which phase?
C 300
Contraction
C 300
DAILY DOUBLE
C 400
DAILY DOUBLE
Place A Wager
Frictional Unemployment is most likely to occur during
which phase?
C 400
Expansion or peak – either phase is correct
C 400
Inflation is most likely to occur during which phase?
C 500
Expansion or peak – both answers are correct
C 500
In order to be unemployed you must be…
D 100
Actively looking for work
D 100
In the United States, what level of unemployment is
considered “full employment?”
D 200
3% or 4% either answer is correct.
D 200
What type of unemployment occurs when you lose your
job due to a recession?
D 300
Cyclical – as in the business cycle.
D 300
What name is given to people who have given up looking
for work?
D 400
Discouraged
D 400
What name is given to unemployment that occurs when your job is no longer needed by the economy?
D 500
Structural
D 500
What is the definition of inflation?
E 100
A general increase in prices.
E 100
On average, the United States experiences what level of
inflation each year?
E 200
3%
E 200
What type of inflation occurs when too much money is
created?
E 300
Monetary or quantitative inflation
E 300
What type of inflation occurs when the cost of production
causes prices to rise?
E 400
Cost-Push Inflation
E 400
What type of inflation occurs when consumer demand is
greater than the ability of the economy to produce items?
E 500
Demand-Pull Inflation
E 500
F 100
What are indicators?
Any piece of information that tells you what is occurring in
the economy.
F 100
What are the three categories of indicators?
F 200
Leading, lagging, and concurrent.
F 200
If the current month is June, what is an indicator from the
month of August?
F 300
Leading
F 300
If the current month is June, what is an indicator from the month of May?
F 400
Concurrent
F 400
If the current month is June, what is an indicator from the month of February?
F 500
Lagging
F 500
The Final Jeopardy Category is:
Gross Domestic Product
Please record your wager.
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What is the formula for the expenditure approach for calculating GDP?
C+B+G+(E-I)
Click on screen to continue
Thank You for Playing Jeopardy!
Game Designed By C. Harr-MAIT
