Economics – 12/12/12

I.  Bellwork: Identify each as a Cause or Effect of Inflation on a separate sheet

• 13-2 Economics- Critical Thinking Activity 19

II. Objective:

• Identify how inflation is measured, the causes of inflation, and its impact on the economy.

III.  Poster Board due Next Friday

IV.  Chapter 13 iLearn Quiz – Starts today-ends tomorrow

What to know?

• Identify Business Cycle Phases
• Economic Indicators from Free Enterprise 18
• Recession and Depression
• What events led to the Great Depression and what followed?
• Changes in the Economy after WWII
• Different Types of Inflation (Hyper, Creeping, Stagflation)
• Different Causes of inflation (Wage Price, Demand Pull, Cost Push, Monetary Policy)
• Deflation
• Inflation Winners & Losers
• How inflation impacts the economy?

V.  Classwork

• 13 Free Enterprise Activities 18
•  Economics U$A – Inflation:  Video & Questions

1. What did Kennedy do to stimulate the economy in the early 1960’s?
2. What was happening to demand in 1965-1966?
3. What were the major governmental expenditures in 1965?
4. What type of inflation occurred as a result of the change in demand & government spending?
5. What policy was recommended, but not implemented to decrease inflation?
6. Who gains as a result of inflation?
7. How do businesses fair during inflation?  Why?
8. How does inflation affect those people on a fixed income?
9. What did workers in New York fight for and what was the result?
10. What type of inflation was created by the New York workers?
11. How did Nixon first try to combat inflation?  What was the result?
12. What did Nixon later do to combat inflation?  What was the result?
13. What occurs when attempting to lower inflation by decreasing aggregate demand?

Economics F2012