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Chapter 2 The Economics and the Global Economy

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Presentation on theme: "Chapter 2 The Economics and the Global Economy"— Presentation transcript:

1 Chapter 2 The Economics and the Global Economy
Business Math Chapter 2 The Economics and the Global Economy

2 Gross Domestic Product (GDP) Consumer Price Index (CPI) inflation
Economics and the Global Economy Chapter 2 fiat money money supply budget deficit budget surplus patent copyright trademark Gross Domestic Product (GDP) Consumer Price Index (CPI) inflation deflation recession trough specialization international trade absolute advantage comparative advantage balance of trade protectionism

3 Economics and the Global Economy
Chapter 2 tariff quota embargo

4 Economics and the Global Economy
Chapter 2

5 Role of Money Trading Saving What Is Money Used for? Lending Investing
Economics and the Global Economy Chapter 2 Role of Money Section 1 The U.S. uses fiat money. This means the government has deemed it to be money or legal tender. Trading Saving What Is Money Used for? Lending Investing

6 Functions of Money Medium of Exchange Unit of Value Store of Value 2
Economics and the Global Economy Chapter 2 Functions of Money Section 1 Medium of Exchange Unit of Value Store of Value

7 Properties of Money Stable Usable Divisible 2
Economics and the Global Economy Chapter 2 Properties of Money Section 1 Usable Stable Divisible

8 Properties of Money 2 Economics and the Global Economy Section 1
Chapter 2 Properties of Money Section 1

9 Role of Government in the Economy
Economics and the Global Economy Chapter 2 Role of Government in the Economy

10 Role of Government in the Economy
Economics and the Global Economy Chapter 2 Role of Government in the Economy Regulation Security and Exchange Commission (SEC) regulates stocks and bonds Federal Reserve System (The Fed) regulates the U.S. banking system and monetary policy Occupational Safety and Health Administration (OSHA) issues guidelines for worker safety Equal Employment Opportunity Commission (EEOC) regulates hiring, firing, and promotions to ensure equal treatment based on ability Food and Drug Administration (FDA) regulates food safety and labeling Consumer Product Safety Commission regulates products other then food Federal Trade Commission (FTC) protects consumers Environmental Protection Agency (EPA) protects health and environment stock market banks worker safety fair hiring/ firing Food and Drug Safety Product Safety Fair Business Practices Environment

11 Role of Government in the Economy
Economics and the Global Economy Chapter 2 Role of Government in the Economy Protection U.S. Legal System Patents Copyright Trademark Military Central Intelligence Agency (CIA) Federal Bureau of Investigation (FBI) State and local law enforcement, inspectors and regulators

12 Role of Government in the Economy
Economics and the Global Economy Chapter 2 Role of Government in the Economy Assistance Social Security Act Federal Insurance Contribution Act (FICA) Medicare Medicaid National School Lunch Program Grants, Scholarships, Fellowships, Student Loans Federal Emergency Management Agency (FEMA)

13 Federal Reserve System
Economics and the Global Economy Chapter 2 Federal Reserve System Interest Rates Guides Monetary Policy The Federal Reserve System is the Central Bank of the United States Foreign Exchange Rates Regulates the U.S. Banking System

14 Federal Reserve System
Economics and the Global Economy Chapter 2 Federal Reserve System Functions Regulate the Money Supply Foreign Exchange Markets Influences the economy through control over the federal funds rate May lower interest rates in a recession May raise interest rates when the economy is growing too fast Changes in monetary policies affect international relations and trade A weak dollar and a strong dollar affect the economy in different ways

15 Economics and the Global Economy
Chapter 2 Business Cycles Section 2

16 Economic Indicators Gross Domestic Product (GDP)
Economics and the Global Economy Chapter 2 Economic Indicators Section 2 Gross Domestic Product (GDP) Consumer Price Index (CPI) Inflation – when prices go up Deflation – when prices go down Unemployment Rate

17 Economics and the Global Economy
Chapter 2 Business Cycle

18 Roles of Trade Individuals Trade skills for wages
Economics and the Global Economy Chapter 2 Roles of Trade Section 2 Individuals Trade skills for wages Trade goods and services for revenue Organizations Trade with other nations for resources Nations

19 Economics and the Global Economy
Chapter 2 Roles of Trade Section 2

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