1st Watch the Circular flow how the economy works and answer the questions
https://www.youtube.com/watch?v=mN5HPJYJzus
1. Identify the 4 parts of the circular flow of money (fill in the blank)
Resourse and P_______________ Market
Business and H________________
2. Is the mall part of the resource or product market?
3. What did you think of Clifford's video on the Circular Flow?
2nd Watch the Economics of Trump's tariffs and answer the following questions
https://www.youtube.com/watch?v=_GrjO-oRQ5M1. Why does Clifford advise his viewers to avoid assymentic information (Fox news and MSNBC news point of view) What happens in the echo chamber?
2. Why don't most economists agree with protectionist policies?
3. Some people have lost their jobs because of globalization, but are trade deficits always bad?
4. Make a connection, how do you think the Trump tariffs impact the circular flow of money?
3rd Watch Fiscal ; Monetary Policy - Macro Topic 5.1 Answer the following questions
https://www.youtube.com/watch?v=bv-uNNkE39I
1. What are the 3 options to fix a recession?
2. Fiscal policy is used by the government. What are its two major tools?
3. Monetary policy is controlled by the Federal Reserve. What are its three tools?
4. What should the fiscal and monetary policy be in the US today to deal with coronavirus?
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