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Published byCharlene O’Brien’ Modified over 9 years ago
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Essays (2) Answer one question from each section
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Tradition, Command, and Market Economy Define each Describe how each answers 4 basic economic questions Strengths and weaknesses
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Supply and Demand Discuss how it (S and D) influences income level 3 professions Should Social Value play a larger role?
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Budget Deficits and Debt Define Budget deficit Define National Debt Discuss politics of balancing the budget (Why so difficult)
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Taxation Personal Income Tax Social Security Tax Sales tax Estate tax Describe each (2) Is the tax “ ideal”? (fair, effective, neutral)
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Unions Goals (3) Tools (3) Effectiveness
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Federal Reserve System 3 tools Business cycle – “easy” or “tight” money policy How to combat inflation? Board of Governors (why appointed not elected? Explain)
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National Economic Goals Full employment, Price Stability, and Economic growth (define each) Business cycle – how it complicates achieving each goal Inflation – how does it influence consumer behavior
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