AP ECONOMICS: February 27

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Presentation transcript:

AP ECONOMICS: February 27 Warm-up How would government economic policymakers use the three fiscal policy tools if the economy is experiencing: (1) a recessionary gap; and (2) an inflationary gap. A.P. Economics Learning Target In order to understand how public policy can impact the economy’s output, price level, and level of unemployment, I will analyze the impact of fiscal policy on AD. I will know I have it when I can, given an economic scenario: (1) determine the fiscal policy needed (if any) to address the situation; and (2 distinguish between discretionary and automatic fiscal policy. --Act. 5-2: discretionary vs. automatic fiscal policy (HO) -text rendering: Underline sentences, box phrases, and circle words that you believe represent the key concepts in the reading --Continue going over Key Concepts HO (HO from earlier) Assignment --Study for quiz on fiscal policy, long-run equilibrium & gaps (QUIZ IS TOMORROW) --GC Assignment #17 (Module 21) Wed., March 6th: FRQ #5 (mainly over Key Concepts HO) Thur., March 7th : MCT #3 Fri. March 8th: Notebook turn in