Macro economics chapter 12

We are going to look at the problems in the US  20th century economy by reading parts of Rethinking America by Hedrick Smith.

Chapter 12: Gross Domestic Product and Growth

12 (1) p. 301  identify each of the key terms in 7 words or less for each term.

Look at the chart on page 302.  How does expenditure approach differ from income approach?

List 3 facts about the underground economy (p. 305)

Answer questions #1-7 on page 308  (odd/even)

12(2) p. 310   Identify the key terms in 7 words or less for each term.

What does the graph on page 312 show

What does the Global connection on page 314 show the relationship between?

What does the green flag on page 316 show?

Answer questions 1-5 on page 316 (odd/even)

Answer questions #1+2 on page  317

12(3)  Identify the key terms on page 318 in 7 words or less for each term.

How is capital deepening shown on the chart on page 322?

How does the fast fact on page 323 explain how innovations impact business efficiency?

Answer questions # 1-5 on page 324. (odd/even)

Answer questions 1+ 2 on page 325.

Macro Economics HW Chpt 13

What is the difference between micro and  macro economics?
What are the 3 national goals?
What does  C+I+ G+ (x-m) mean?
What is the difference between the multiplier effect and the acceleration principle?
How will the Federal Government shut down impact the economy?


13(1) Unemployment
Answer  Global connections question on page 335.
Questions 1-6 (odd/even) page 336

13(2) Inflation
What is a wage price spiral (page 342)?
Questions 1-6 (odd/even) page 343.

Read Oprah Winfrey (344)Answer questions 1+2 (odd/even)

13(3) Poverty
Look at poverty rates by group ( 346) What race and gender  has the highest and lowest rates of poverty.
What does the Lorenz curve (348) show?
Questions 1-8 (350) odd/even
Questions 1+2 on page 351.