ECONOMICS STUDY GUIDE SECOND SEMESTER MAY 2017

CHAPTER 8-Types if Business Organizations

Sole proprietorship dividend
limited life bond
unlimited liability horizontal/vertical mergers
general/limited/limited liability conglomerate
partnerships multinational corporation
corporations franchise
unlimited life co-operatives
limited liability nonprofits
stock
1. advantages/disadvantages of sole proprietorship, partnership
2. advantages/disadvantages of partnerships
3. adv/disadv of corporations
4. local examples of all of the types of businesses
5.
6. CHAPTER 12-Eco. Indicators and Measurements (GDP and Business Cycle)
7. GDP 9. recession 11. net exports
8. inflation 10. depression 12. per capita GDP
13.
1. GDP equation and examples of each part
2. what is not included in GDP & why
3. business cycle & what causes it to fluctuate
4. examples of business cycles in 20th century
5. why net exports are negative today
6. items that drive economic growth
14.
15. Chapter 13 Economic Instability
16. Business cycles 22. Demand-pull inflation
17. Recession 23. Cost-push inflation
18. Depression 24. Creditors
19. Leading economic indicator 25. Debtors
20. Inflation 26. Unemployment rate
21. Base year 27. outsourcing
28.
1. label the 4 parts of the business cycle and know what each represents
2. know causes of fluctuations in the business cycle
3. know examples of business cycles in US history in the 20th and 21st centuries
4. differences in creeping inflation, hyperinflation, stagflation
5. difference in frictional and structural unemployment
29.
30.
31.
32.
33.
 34. Chapter 14 Govt Revenue and Spending (Taxes)
35. Tax 42. import taxes
36. Revenue 43. mandatory government spending
37. progressive tax 44. discretionary government
38. regressive tax spending
39. proportional tax 45. entitlements
40. tax incentive 46. balanced budget
41. excise tax
1. principles and criteria of taxation
2. examples of each type of tax, who benefits/is at disadvantage by each
3. examples of entitlements
4. examples of mandatory and discretionary govt spending
5. largest source of federal revenues and expenditures
6. examples of state and local taxes
7.
8. CHAPTER 15 Fiscal Policy
9. Fiscal policy 15. automatic stabilizers
10. deficit spending 16. limitations of fiscal policy
11. budget deficit 17. demand side policy
12. budget surplus 18. supply-side policy
13. expansionary fiscal policy 19. national debt
14. contractionary fiscal policy 20. causes of national debt
21.
1. fiscal policy tools used in inflation and recession
2. examples of how govt enacts expansionary/contractionary fiscal policy
3. goals of fiscal policy
4. why fiscal policy often takes longer to enact
5.
6. CHAPTER 16-Monetary Policy
7. Monetary policy 14. District and member banks
8. reserve requirement 15. discount rate
9. Prime rate 16. prime+ (prime plus)
10. discount rate 17. expansionary monetary policy
11. interest rates 18. contractionary monetary policy
12. Federal Reserve System 19. easy money policy
13. Board of Governors 20. tight money policy
1. effects of and who makes decisions concerning interest rates
2. when and why the Fed was created
3. duties/how Fed serves the govt
4. goals and effects of monetary tools used in inflation and recession
5. Feds role in lending money (to whom) and regulating and supervising banks
6. Examples of how the Fed expands or contracts the money supply-and effect of each
7.
8.
9. CHECK WRITING
10. You will have to write a couple of checks and deposit slips, enter them in a check
register and reconcile the bank statement.