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Graphs and Economic Theories in Jeopardy!

Learn key terms and concepts related to graphs, economic theories, GDP/inflation, government policies, unemployment/employment in this interactive Jeopardy game.

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Graphs and Economic Theories in Jeopardy!

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  1. Jeopardy! Begin

  2. Graphs Key Terms Economic Theories GDP/Inflations Government Policies Unemployment/Employment $100 $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500 $500

  3. - $100A negative relationship on graph is a C1-$100 Left ward shift

  4. - $200An aggregate demand curve shows C1-$200 the total amount of goods and services demanded in an economy at an overall price level and at a given time

  5. - $300On a productions possibility curve, points outside of the curve are considered C1-$300 Unattainble

  6. - $400AS/AD graphs can show which types of gaps C1-$400 Recessionary and Inflation gaps

  7. - $500A Philips curve can shows the short run trade-off between C1-$500 Inflation and unemployment

  8. - $100Consumer goods are goods that are for C2-$100 The final consumer

  9. - $200The law of demand states that C2-$200 the higher the price for a good or service, all other things being equal, leads people to demand a smaller quantity of that good or service

  10. - $300The revolving door affect refers to C2-$300 Going from public sector employment to private sector employment and vice versa

  11. - $400Stagflation is C2-$400 A period of slow economic growth and relatively high unemployment and inflation

  12. - $500A centrally planned economic system is a system in which C2-$500 economic decisions are made by the state or government rather than by the interaction between consumers and businesses

  13. $100True/FalseA communist economy is an example of a centrally planned economy C3-$100 True

  14. - $200The US is a strong proponent of which economic theory? C3-$200 Capitalism

  15. - $300Karl Marx created which economic theory? C3-$300 Socialism

  16. - $400Adam Smith is considered the father of which type of economics? C3-$400 Classical economics

  17. $500True/FalseKeynesian economics believes that the short run is affected by aggregate demand C3-$500 True

  18. - $100GDP is the C4-$100 total value of all final goods and services produced in the economy during a given year

  19. - $200The Determinants of GDP are C3-200 Consumer spending, government spending, investment spending, an net exports

  20. - $300An inflationary gap is C3-$300 the distance between current levels of real GDP and full employment GDP

  21. - $400GDP per capita is C3-$400 average GDP per person

  22. - $500The percentage change per year in a price index is called C3-$500 Inflation rate

  23. - $100Automatic stabilizers are designed to C4-$100 offset fluctuations in the economy without government intervention through policies

  24. - $200A stabilization policy tries to keep economic growth stable and both C4-$200 Inflation and unemployment

  25. - $300A fiscal policy is government spending that affects C4-$300 Macroeconomic conditions

  26. - $400A contraction policy is a reaction to C4-$400 a rapid economy and works to slow expansion

  27. - $500A policy that seeks to expand the money supply, economic growth, and combat inflation is called C4-$500 An expansionary policy

  28. - $100The labor force consists of both the C4-$100 Employed and unemployed

  29. - $200True/FalseOnly people looking for work and can’t find it are considered unemployed C4-$200 True

  30. - $300Unemployment due to time workers spend searching for a job is called C4-$300 Frictional unemployment

  31. - $400Frictional and structural unemployment is considered C4-$400 The Natural Rare of Unemployment

  32. - $500Cyclical Unemployment is C4-$500 the deviation of the actual rate of unemployment from the natural rate due to a recession.

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