1 / 32

Understand Your Economy: Inflation or Bust

Learn about inflation, rational buying, earning potential, public goods, pricing strategies, economic cycles, and more to navigate the economy successfully. Hire me as your assistant now!

turnermary
Download Presentation

Understand Your Economy: Inflation or Bust

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Know that Name MY EconoMY Inflation or Bust HIRE ME! Paycheck Please… Grab Bag 10 10 10 10 10 10 20 20 20 20 20 20 30 30 30 30 30 30 40 40 40 40 40 40 50 50 50 50 50 50

  2. What do we call the percentage index used to measure inflation? 10 CPI (Consumer Price Index)

  3. What type of buying pattern is it when consumers use logic to act in their own best self-interests to make purchases 20 rational buying

  4. What type of raise will provide an increase in your purchasing power: 30 merit raise or bonus

  5. When gasoline prices fall and jump back up again, this is an example of: Choose: deflation, hyperinflation, reflation 40 reflation

  6. Name some examples of public goods your tax dollars go to pay for: 50 public education, police, national and local parks, roads, firemen…

  7. True or False: Statistics show the amount and type of education you complete DOES NOT affect your income. 10 FALSE

  8. True or False: You should not smile during a job interview because you want to show you are serious about the job. 20 FALSE

  9. The group of friends or acquaintances you keep in contact with and share information with is called your: 30 Social Network (Helps in networking for a job)

  10. Type of self-employment business that starts small but intends to grow into a corporation: 40 Venture

  11. Name 3 factors that affect your earning potential. 50 Education, natural talent, hard skills, soft skills, experience

  12. True or False: When demand exceeds supply, businesses will charge lower prices for a product 10 FALSE

  13. Thankfully, the US has not experienced this type of inflation where the prices rise out of control going 50%-300% inflation 20 HYPERINFLATION

  14. When a business sets prices on the cost of production plus a markup, they are using what pricing strategy? 30 Cost-plus pricing

  15. During this phase of the economic business cycle, although you may want to stop spending, it is better to spend a little more than save : Choose: peak, recovery, recession, trough 40 recession

  16. When supply exceeds demand, will business typically raise or lower prices? 50 LOWER

  17. True or False: When prices are rising faster than your income, you gain purchasing power 10 FALSE

  18. True or False: The most common type of inflation is demand-pull(we cause demand which pulls up prices) 20 TRUE

  19. If a business raises a price because their cost to create the product rises, this is known as what type of inflation? Choose: demand-pull, cost-push, real-cost 30 Cost -push

  20. What percentage of mild inflation is said to be good for the economy? 40 2-3%

  21. This concept says that a dollar you receive in the future will be worth less than a dollar your receive today. 50 time value of money

  22. True or False: Salaried workers usually do not keep time cards or count hours worked or receive overtime pay 10 TRUE

  23. True or False: With E-filing a tax return, tax refunds will be a lot slower than filing a paper return 20 FALSE

  24. Overtime pay (over 40 hours per week) is paid at what amount times the regular rate? 30 1 ½ (1.5 times regular)

  25. True or False: Sales tax is considered a progressive tax. 40 FALSE

  26. True or False: Lifelong learning of new skills will help you get a job and earn higher pay and promotions. 50 TRUE

  27. The following accomplishments might earn you what type of financial aid as a gift?... grades, athletic skills, financial need 10 scholarship

  28. On the job training is considered what type of education? Choose: formal, self, informal 20 informal

  29. What is income received from sources other than working? 30 unearned income

  30. True or False: Using fancy fonts, special paper and flashy elements is a good idea to help your resume stand out 40 FALSE

  31. What is a set of moral values that people consider acceptable? 50 ethics

  32. Final Jeopardy Draw a diagram showing the relationship between Supply, Demand and Prices (use S, D, P) ** NOTE: reaching an equilibrium of supply and demand is a desired outcome in the long run

More Related