Unit 4 Part 2 TestA day: Wed, 4/13
B Day: Thurs, 4/14 Review Packet Answer Key
Business Cycles Review
Key Termscommodity money
National deficit open market operations fiat money The Federal Reserve monetary policy fiscal policy reserve requirement discount rate barter system interest rate money supply proportional tax progressive tax regressive tax national debt estate tax excise tax discretionary spending mandatory spending FOMC purchasing power inflation unemployment consumer price index unemployment rate gross domestic product (GDP) real gross domestic product current or nominal gross domestic product business cycle expansionary/recovery period contractionary/recessionary period peak trough growth trend/trend line *If a word is red, then there is a link attached to it! Where Can I Find This in Textbook?PART 1:
GDP p.319-327 Inflation p.361-367 Unemployment p.369-375 Business Cycles p. 353-360 PART 2: Monetary Policy Chapter 14 starts p.383 Fiscal Policy Chapter 10 starts p.260 The Fed, Monetary Policy & the Economy Publication from the Dallas Federal Reserve
The Fed Today Publication
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VideosWe didn't watch the video below, but it is also a good reference to review the measurements on the economy.
The Federal Reserve of Atlanta Powerpoint on GDP and the Output Expenditure Model
Students looked at the Output Expenditure Model for GDP. Students also practice identifying the components of the model, determining how that component effects GDP.
In your textbook, Unemployment starts on page 369-375.
More on Inflation
Below is a CPI Practice Video by Mr.Clifford
This is the digital version of the booklet we used in class:
Money: Everyday Economics from the Federal Reserve Bank of Dallas The worksheet that goes with the Money:Everyday Economics Booklet:
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