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Download Study Guide for Chapter 16 Economics Expect 10
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Transcript
Study Guide for Chapter 16 Economics Expect 10-15 Multiple choice questions, 5-6 short answer questions, and 3-5 questions dealing with reading charts and graphs. List at least two reasons the government gets involved in the economy. Define the following markets: Monopoly Oligopoly – Monopolistic Competition – Perfect Competition Define the following terms: Growth Recession Inflation Define the following economic indicators: GDP – Dow Jones Industrial Average – Consumer Price Index – Unemployment Rate – Prime Rate – Be able to explain what monetary and fiscal policy is, as well as how the government uses these policies to “fix” a failing economy. Be sure to know specific examples of each. Be able to explain the basics of the U.S. National Debt. How much is it? Who is the money owed to? What is most of the money spent on? Be able to read graphs and charts, explain the “health” of the economy, and tell how the government could “fix” the problems.
