Health Economics w/ TAR | MIDTERM

If you see lots of trucks on the highway, trains going by, factories running night shifts, crowds of people spending lots of money in the supermarkets and department stores and bars and everywhere, then you know the economy must be…

If you see a lot of idle factories and glum people pinching pennies and looking for work, then you know the economy must be…

What is the total gross value of all goods and services produced in the economy in one year?

What do GNP figures reflect?

The GNP’s ________ changes during the year.

Asking businesses to fill out forms telling how much they are producing and checking the annual rate output is how the government…

Asking businesses how much they are paying out to the owners of the factors of production is how the government…

The National Statistics Office, National Economic Development Authority, Department of Trade and Industry, and the Philippine Chamber of Commerce are all…

Anything which prevents you from spending a part of your income ________ your disposable personal income.

Anything which gives you more money to spend ________ your disposable personal income.

Deduct ________ from GNP to get NNP (net national product)

Deduct ________ from NNP to get NP = NI (national income)

It is the total spending which supports the total level of employment and production or the total level of economic activity.

Total spending pulls forth ________.

A ________ is a slowdown in the rate in which the economy is running.

A ________ is a serious, prolonged period of high unemployment and low output and income in the economy.

Reduced output = ________

As ________ increases, output increases.

Output increases until the economy reaches ________.

If spending continues to increase after full capacity is reached, there will be ________.

________ is the increasing prices of goods and services and an increase in the average price level in the nation.

The ________ must be just right if we are going to have full employment and stable prices.

People spend for ________ purposes

Businesses spend for ________.

What determines the total level of spending?

Consumer spending, investment spending, government spending, and foreign spending for our export are all…

Everybody wants a ________ economy.

The set of actions designed to stabilize prices and/or employment by adjusting or controlling the availability and/or cost of credit (money) is known as…

________ conditions call for easy money.

Easy money can cause ________.

________ is the policy of the government to keep interest rates low and to supply reserves to the banking system to make it easy for money to be borrowed.

The purpose of easy money is to stimulate spending to ________.

________ is the amount that the government’s expenditures exceed its revenues.

The ________ increases each year by the size of the budget deficit.

When the government runs a deficit, the treasury makes up the difference by ________.

Borrowing is when the treasury sells ________.

________ are securities sold by governments and businesses to borrow money (mostly bonds and treasury bills).

People who buy bonds receive the ________ stated on the bond certificate.

Customers of a bond receive its ________ on the pay-off date stated on the bond.

A bond’s pay-off date is also known as its ________ date.

A bond’s face value is also known as its ________.

A ________ is a short-term debt obligation of the government.

A treasury bill is like a ________, but it matures in less than a year (usually 3 or 6 months).

The buyer of a treasury bill earns interest by buying the bill at a ________.

The buyer of a treasury bill receives its face value at ________.

Bonds are ________ government securities.

Treasury bills are ________ government securities.

________ is made up of government securities.

Government securities are sold by the treasury in the ________.

What is money?

What is a medium?

What are the functions that money serves as?

What is the most important function of the Bangko Sentral ng Pilipinas?

The Bangko Sentral ng Pilipinas serves as ________ for the commercial banks.

The Bangko Sentral ng Pilipinas holds deposits and sends money to ________.

The Bangko Sentral ng Pilipinas supplies ________ to banks, who then supply them to the public.

The Bangko Sentral ng Pilipinas helps in the ________ of checks.

The Bangko Sentral ng Pilipinas serves as a ________ for the federal government.

The Bangko Sentral ng Pilipinas holds deposits for the ________.

The Bangko Sentral ng Pilipinas aids in the buying and selling of ________.

The Bangko Sentral ng Pilipinas aids in the collection of ________.

The Bangko Sentral ng Pilipinas supervises, examines, and regulates ________.

The Bangko Sentral ng Pilipinas plays an important role in ________ transactions.

What is the heart of the money system?

In what system was any acceptable object used as a medium of exchange?

Back then, ________ is the dominant form of money.

Back then, ________became money backed up by valued objects.

The ________ expands and contracts automatically.

________ money sometimes creates money.

All the money we have is really ________.

Money is destroyed once ________.

Increasing the checking account ________ creates money.

Banks can’t ________ unless they have some money to ________.

A ________ creates excess reserves.

A bank can lend its ________.

The BSP holds ________.

Banks pay each other out of their BSP ________.

No one ever cashes a ________.

________ money never leaves.

In a ________, deposits keep expanding.

Lending the excess reserves creates ________.

The lower the required reserve, the more the money supply can ________.

The ________ goes from bank to bank.

The ________ limits the money expansion.

________ would destroy the value of money.

For money to have ________, its supply must be limited.

New reserves come from the ________.

Excess reserves do not guarantee an ________.

________ limits money expansion.

________ destroy money.

The ________ creates most of our money.

When the BSP buys ________, it creates new money.

When the treasury borrows money and gives ________ in exchange, money is not created.

If ________ doesn’t work, try fiscal policy.

Adjusting government expenditures and taxes to try and stabilize the economy and overcome inflation and/or unemployment is known as ________.

In order to stimulate the economy, the government must ________ to check recession and/or unemployment.

In order to hold down the boom of the economy, the government must ________ to check overspending and curb the threat of foreboding inflation

Progressive income taxes are also known as ________ for the economy.

The government policies used to try and stabilize the economy and maintain full employment and which are adjusted by government policymakers at their discretion to reflect economic conditions is referred to as ________.

Discretionary stabilization policy is also known as ________.