Economics

Homework due Monday, January 5

Economics in Our Times

      Read pp 354-360, 364.  Be sure to read “Economics and People”, pp 357-358.

      Write answer to Question 1 on p. 358

      Write answers to Learning Checks:

            p. 359, # 1-4

            p. 364, #1-4

      Write definitions for the following terms in your own words (DO NOT copy the textbook’s definition):

            fiscal policy

            expansionary fiscal policy

            contractionary fiscal policy

            crowding out

            crowding in

            expansionary monetary policy

            contractionary monetary policy

Read: “The Chicago School”

         “Keynsian Economic Theory”

Complete the Study Questions.  Download the document. You may handwrite or type your answers.