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Ch.14&15

Ch.14&15. Mrs. Brooke Lubin Economics Bolton High School. Thursday, November, 7 th , 2013. Did you turn in or show me your Ch.15 overview? Did you READ Chapter 15??? Ch.15 “reading” quiz Discuss Ch.15. Ch.15 Sec.1 QQ. What is macroeconomic equilibrium determined by?

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Ch.14&15

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  1. Ch.14&15 Mrs. Brooke Lubin Economics Bolton High School

  2. Thursday, November, 7th, 2013 • Did you turn in or show me your Ch.15 overview? Did you READ Chapter 15??? • Ch.15 “reading” quiz • Discuss Ch.15

  3. Ch.15 Sec.1 QQ • What is macroeconomic equilibrium determined by? • What effect would a decrease in production costs for all firms have on the aggregate supply curve? • What effect would a decrease in consumer savings have on the aggregate demand curve? • Why does the aggregate demand curve have the slope it does? • A decrease in labor productivity causes aggregate supply to __________.

  4. Ch.15 Sec.2 QQ • According to the multiplier effect, what effect will a change in investment spending have? • According to Keynesian economics, temporary federal deficits… • Those who favor supply-side policies would tend to support the government playing a(n) _______ role in the economy. • Unemployment insurance and federal entitlement programs are two examples of__________. • What sort of policies would be favored by a monetarist?

  5. Ch.15 Sec.3 QQ • Why has the use of discretionary fiscal policy declined? • The US relies most on what type of fiscal policies? • Economists today… • Describe the role of the Council of Economic Advisors. • A president might ignore the recommendations of professional economic advisors in order to…

  6. Friday, November 1st, 2013 • Grab the Ch.14 QQs from the front table-15 minutes to complete to the best of your ability. • With a partner, complete and compare answers to ensure accuracy (10 minutes). • Turn in. • Finish Ch.14 discussion about Money, Banking, and the Fed • Video about the Fed. • Monday: Ch.14 review presentation! • Tuesday: TEST Ch.13 & 14 YOU WILL NEED A PENCIL

  7. Thursday, October 31st, 2013 • Due today: Ch.14 Overview-READ, outline and vocabulary • BELL: watch video (approx. 10 minutes) • Check overviews. • Ch.14 “reading” quiz • Ch.14 discussion

  8. https://www.youtube.com/watch?v=Txi8sXO16VU

  9. Ch.14 Sec.1 QQ • The Fed has defined different components of the money supply, M1 and M2, according to the money’s _______. • A “mutual coincidence of wants” is _______ to achieve in a barter economy. • Early colonists in Virginia used tobacco as _______. • What is the origin of the American dollar? • The function of money that allows purchasing power to be saved until needed is called…

  10. Ch.14 Sec.2 QQ • What was a problem with banking before the Civil War? • What does a bank use to make loans? • Greenbacks and national currency were issued in the 1860s to… • When a bank keeps $200 from a $1000 deposit as a legal reserve, it is using the ________ system. • What is the current FDIC insurance limit per customer per bank?

  11. Ch.14 Sec.3 QQ • The Fed is owned by… • Which banks are members of the Fed? • The quantity theory of money holds that excessive increases in the monetary supply… • The dilemma faced by the Fed when considering monetary policy is the choice between _______ and ______. • Increasing the reserve requirement or selling government securities would promote a _______ money policy

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