Unit 10 Study Guide Economics II I.

Unit 10 Study Guide
Economics II
a. Review all vocabulary words
From your binder
a. Review pages 162-170
b. p.164,166: Federal Reserve System
i. How does the FED control the money supply?
ii. Ways the FED slows the economy and how it affects interest rates
iii. Ways the FED stimulates the economy and how it affects interest rates
c. p.168: Role of Government in the Economy
i. How does the money available to businesses and individuals change when
the government raises/lowers taxes, borrows more/less money or
increases/decreases spending?
ii. Purpose of the 16th Amendment
iii. How does government taxing, spending and borrowing affect the U.S.
economy? (Refer to the arrows we drew as a reference)
d. p.169: Reasons to trade
i. Know the 4 reasons why nations/states trade with each other
ii. What is the global economy?
iii. What is the impact of technology?
iv. Why do states/nations specialize in specific products?
e. p.170: The Workforce and Careers
i. Why does the U.S. trade with other nations?
ii. Impact of technological innovations
iii. Career Planning
f. P.165,167: Guided Readings 24-1, 24-2
i. Be sure to know the answers to all of those questions, some will be on the
Go over corrected review test.