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# Unit 2 Review

Unit 2 Review. Here's how to play JEOPARDY! The class will be split into two teams, the RED team and the GREEN team. When a question is displayed, the RED team will use the ABCD keys on their clickers  to answer. The GREEN team will use the EFGH keys to answer.

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## Unit 2 Review

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1. Unit 2 Review

2. Here's how to play JEOPARDY! The class will be split into two teams, the RED team and the GREEN team. When a question is displayed, the RED team will use the ABCD keys on their clickers  to answer. The GREEN team will use the EFGH keys to answer. The team with the HIGHEST PERCENTAGE of correct responses will earn the points for  that question, AND the right to pick the next category! Let's do a practice question to make sure everybody understands how to play. Go on to the Practice Question

3. Sample Question 1 Insert Question Here Who is the greatest college football team? A B C D E F Michigan Wolverines G H Music Go on to the Game Board

4. Unemployment Chapter 17 Chapter 15 Chapter 13 Models \$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

5. Score Board Red Team Green Team Back to Game Board

6. 100 pts 1 Insert Question Here Based on the graph, the increase in oil prices caused output to A B C D E F Milton Friedman G H Music Score Back

7. 200 pts 2 Insert Question Here Economists use the term "leakage" to refer to A B C D E F income that does not follow the  circular flow. G H Music Score Back

8. 300 pts 3 Insert Question Here High unemployment is usually a sign that A B C D E F purchasing has slowed G H Music Score Back

9. 400 pts 4 Insert Question Here 400 Which economist believed that the government should step in to stimulate  aggregate demand in order to avoid or shorten economic recessions? A B C D E F G John Maynard Keynes H Music Score Back

10. 500 pts 5 Insert Question Here According to some economists,  stagflation is caused by A B C D E F cost-push inflation G H Music Score Back

11. 100 pts 1 Insert Question Here Temporary unemployment between jobs because of firings,  layoffs, voluntary searches for new jobs, or retraining is called A B C D E F frictional unemployment Frictional unemployment G H Music Score Back

12. Cyclical unemployment 200 pts 2 Insert Question Here Ronald McDonald, who just graduated form Clown  School, is looking to find his first real job A B C D E F Frictional unemployment G H Music Score Back

13. 300 pts 3 Insert Question Here Frosty the Snowman is expecting to be out of  work shortly following the last big snow of the  year A B C D E F Seasonal unemployment G H Music Score Back

14. 400 pts 4 Insert Question Here Workers at many nuclear power plants lost their  jobs when power companies decided not to  replace aging plants. A B C D E F Structural unemployment G H Music Score Back

15. 500 pts 5 Insert Question Here Sam I Am was laid off after orders for Green  Eggs & Ham declined greatly following last  years stock market crash A B C D E F Cyclical unemployment G H Music Score Back

16. 100 pts 1 Insert Question Here When credit is inexpensive and easy to get, the  Federal Reserve is probably using  ___________. A B C D E F loose money policy G H Music Score Back

17. 200 pts 2 Insert Question Here The Federal Reserve can affect the money supply by A B C D E F changing reserve requirements G H Music Score Back

18. 300 pts 3 Insert Question Here The number of district Federal Reserve banks in  the United States is A B C D E F 12 G H Music Score Back

19. 400 pts 4 Insert Question Here Which type of institution must belong to the Federal Reserve? A B C D E F all financial institutions that take deposits G H Music Score Back

20. 500 pts 5 Insert Question Here The Federal Reserve is responsible for A B C D E F monetary policy in the United States G H Music Score Back

21. 100 pts 1 Insert Question Here What happens when inflation occurs? A B C D E F The purchasing power of the dollar declines G H Music Score Back

22. 200 pts 2 Insert Question Here The Consumer Price Index (CPI) is often  used to measure ___________________. A B C D E F inflation G H Music Score Back

23. 300 pts 3 Insert Question Here The ups and downs in an economy are called A B C D E F fluctuations G H Music Score Back

24. 400 pts 4 Insert Question Here Business cycles in the United States A B C D E F occur irregularly G H Music Score Back

25. 500 pts 5 Insert Question Here When coincident indicators rise or fall, they indicate A B C D E F the rise or fall in economic activity G H Music Score Back

26. 100 pts 1 Insert Question Here Which letter on the graph represents a boom in  the business cycle? A B C D E F W G H Music Score Back

27. 200 pts 2 Insert Question Here Members of which group on the Federal Reserve organization chart  buy stock in a Federal Reserve Bank? Who are the shareholders? A B C D E F Member Banks G H Music Score Back brdrnonebrdrnonebrdrnonebrdrnoneOrganization of the Federal  Reserve System

28. 300 pts 3 Insert Question Here Which of the following results should be included where  the question mark appears in the illustration? A B C D E F unemployment G H Music Score Back

29. 400 pts 4 Insert Question Here In this equation, the “I” represents the A B C D E F total of all business purchases of items used to produce other goods  “capital goods”. G H Music Score Back GDP = C + I + G + X

30. 500 pts 5 Insert Question Here Why will the Fed’s action in the passage cause  the result described? A B C D E F Banks will raise their loan interest rates, so people will  borrow less. G H Music Score Back Like a driver applying a quick tap of the brakes, the Federal Reserve yesterday  raised the cost of borrowing to keep the U.S. economy from running ahead too fast.  As a result, consumers can expect to pay a little more when buying homes, cars,  and other big-ticket items, as well as when carrying credit-card balances. Source: The Columbus Dispatch, July 1, 1999.

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