Learning Objective: 30-04 Explain the factors that cause changes (shifts) in AS.
Number of questions
2
Learning Objective: 30-06 Describe how the AD-AS model explains periods of demand-pull inflation; cost-push inflation; and recession. 4
Learning Objective: 30-07 (Appendix) Identify how the aggregate demand curve relates to the aggregate expenditures model.
4
Learning Objective: 31-01 Identify and explain the purposes; tools; and limitations of fiscal policy.
2
Learning Objective: 31-02 Explain the role of built-in stabilizers in moderating business cycles.
3
Learning Objective: 31-04 Summarize recent U.S. fiscal policy and the projections for U.S. fiscal policy over the next few years.
1
Learning Objective: 31-05 Discuss the problems that governments may encounter in enacting and applying fiscal policy.
3
Learning Objective: 31-06 Discuss the size; composition; and consequences of the U.S. public debt.
1
Learning Objective: 32-01 Identify and explain the functions of money.
1
Learning Objective: 32-02 List and describe the components of the U.S. money supply.
1
Learning Objective: 32-03 Describe what "backs" the money supply; making us willing to accept it as payment.
2
Learning Objective: 32-04 Discuss the makeup of the Federal Reserve and its relationship to banks and thrifts.
2
Learning Objective: 32-05 Identify the functions and responsibilities of the Federal Reserve and explain why Fed independence is important.
1
Learning Objective: 32-06 Identify and explain the main factors that contributed to the financial crisis of 2007-2008.
1
Learning Objective: 32-07 Discuss the actions of the U.S. Treasury & the Federal Reserve that helped keep the banking and financial crisis of 20072008 from worsening.
1
Objective: 3208 Identify the main subsets of the financial services industry in the United States & provide examples of some firms in each category. 1
Learning Objective: 34-01 Discuss how the equilibrium interest rate is determined in the market for money.
2
Learning Objective: 34-02 Describe the balance sheet of the Federal Reserve and the meaning of its major items.
3
Learning Objective: 34-03 List and explain the goals and tools of monetary policy.
4
Learning Objective: 34-05 Identify the mechanisms by which monetary policy affects GDP and the price level.
1