(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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Indicators that change before the business cycle changes
Taxes
Government Spending
Federal Budget
Inflation that occurs when demand for goods and services exceeds existing supply
Phase of the business cycle where consumer spending starts to pick back up and workers are being hired back
Federal Income Tax
Trough/Depression
Phase of the business cycle where people start losing jobs, consumer spending starts to slow down
What type of employment is when someone is done with high school or college and is trying to find a job?
Lagging Indicator
Cyclical Unemployoment
When someone loses their job because of a change in the business cycle? This is what type of unemployment?
Peak/Prosperity
Frictional Unemployment
GDP using current prices
In a recession would the government increase or decrease taxes?
Nominal GDP
Leading Indicator
Tax on alcohol, tobacco and gas
Fiscal Policy
The government's policy on spending and taxation
Progressive Tax
Tax increase as income increases
Decrease Spending
Increase Taxes
In a inflation would the government have to increase or decrease taxes?
Congress
Excise Tax
Coincident Indicator
Full Employment
Decrease Taxes
Recovery/Expansion
Indicator that changes after the business cycle changes
Would the government have to increase or decrease spending during an inflation?
The government is spending more money than what they are taking in
Where does the federal government get most of its revenue from?
Indicator that changes at the same time the business cycle changes
Budget Deficit
Budget Surplus
When only 5% of the working force is without a job
Who is responsible for making Fiscal Policy Decisions?
What are the three tools of fiscal policy?
GDP Adjusted for inflation
Real GDP
Demand Pull Inflation
The government is taking in more money than what they are spending
Inflation that occurs when producers raise their prices to meet increased cost
Recession/Contraction
Phase of the business cycle where there is full employment and GDP stops rising
Phase of the business cycle where banks and multiple businesses start to shut down