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APK: Activation of Prior Knowledge ___________________________________________________ ___________________________________________________ Write at least 2-3 sentences describing a time when… ___________________________________________________ ___________________________________________________ you relied and/or hoped for someone to help you fix a bad ___________________________________________________ financial situation. ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________ Question of the Day ___________________________________________________ ___________________________________________________ How can the Fed help the ___________________________________________________ economy through difficult times ___________________________________________________ in the business cycle? ___________________________________________________ Lesson Questions • Answer the two questions relating to the Business Cycle Chart on page 638. • Explain what GDP Gross Domestic Product means. How can the value of the real GDP let the government know how the economy is doing? [See page 638-639] • Explain what CPI Consumer Price Index means. How can the CPI let the government know how the economy is doing? [See page 642] • Explain what the Fed Federal Reserve Bank does. How can the Fed control and help the economy with the FOMC Federal Open Market Committee, Monetary policy, the discount rate and open market operations? [See pages 661-665]
